Forward Looking StatementsThe information in this presentation has been prepared as at January 11 2019 Certain statements contained in this presentation constitute ldquoforward-looking statementsrdquowithin the meaning of the United States Private Securities Litigation Reform Act of 1995 and ldquoforward-looking informationrdquo under the provisions of Canadian provincialsecurities laws and are referred to herein as ldquoforward-looking statementsrdquo When used in this presentation the words ldquoanticipaterdquo ldquocouldrdquo ldquoestimaterdquo ldquoexpectrdquo ldquoforecastrdquoldquofuturerdquo ldquoplanrdquo ldquopotentialrdquo ldquowillrdquo and similar expressions are intended to identify forward-looking statements Such statements include without limitation the Companysforward-looking production guidance including estimated ore grades project timelines drilling results metal production life of mine estimates total cash costs per ounceall-in sustaining costs per ounce minesite costs per tonne other expenses and cash flows the estimated timing and conclusions of technical reports and other studies themethods by which ore will be extracted or processed statements concerning the Companyrsquos plans to build operations at Meliadine Amaruq LaRonde Zone 5 and theCompanyrsquos expansion plans at Kittila including the timing funding completion and commissioning thereof and production therefrom statements concerning other expansionprojects recovery rates mill throughput optimization and projected exploration expenditures including costs and other estimates upon which such projections are basedstatements regarding timing and amounts of capital expenditures and other assumptions estimates of future mineral reserves mineral resources mineral productionoptimization efforts and sales estimates of mine life estimates of future capital expenditures and other cash needs and expectations as to the funding thereof statementsas to the projected development of certain ore deposits including estimates of exploration development and production and other capital costs and estimates of the timing ofsuch exploration development and production or decisions with respect to such exploration development and production estimates of mineral reserves and mineralresources statements regarding the Companyrsquos ability to obtain the necessary permits and authorizations in connection with its exploration development and miningoperations and the anticipated timing thereof statements regarding anticipated future exploration and the anticipated timing of events with respect to the Companyrsquos minesites and statements regarding the sufficiency of the Companyrsquos cash resources and other statements regarding anticipated trends with respect to the Companysoperations exploration and the funding thereof Such statements reflect the Companyrsquos views as at the date of this presentation and are subject to certain risksuncertainties and assumptions and undue reliance should not be placed on such statements Forward-looking statements are necessarily based upon a number of factorsand assumptions that while considered reasonable by Agnico Eagle as of the date of such statements are inherently subject to significant business economic andcompetitive uncertainties and contingencies The material factors and assumptions used in the preparation of the forward looking statements contained herein which mayprove to be incorrect include but are not limited to the assumptions set forth herein and in managements discussion and analysis (ldquoMDampArdquo) and the Companys AnnualInformation Form (ldquoAIFrdquo) for the year ended December 31 2017 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the yearended December 31 2017 (ldquoForm 40-Frdquo) filed with the US Securities and Exchange Commission (the ldquoSECrdquo) as well as that there are no significant disruptions affectingoperations that production permitting development and expansion at each of Agnico Eagles properties proceeds on a basis consistent with current expectations and plansthat the relevant metal prices foreign exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagles expectations that AgnicoEagles current estimates of mineral reserves mineral resources mineral grades and metal recovery are accurate that there are no material delays in the timing forcompletion of ongoing growth projects that the Companyrsquos current plans to optimize production are successful and that there are no material variations in the current taxand regulatory environment Many factors known and unknown could cause the actual results to be materially different from those expressed or implied by such forwardlooking statements Such risks include but are not limited to the volatility of prices of gold and other metals uncertainty of mineral reserves mineral resources mineralgrades and mineral recovery estimates uncertainty of future production project development capital expenditures and other costs foreign exchange rate fluctuationsfinancing of additional capital requirements cost of exploration and development programs mining risks community protests including by First Nations groups risksassociated with foreign operations the unfavorable outcome of litigation involving the Canadian Malartic General Partnership (the ldquoPartnershiprdquo) governmental andenvironmental regulation the volatility of the Companyrsquos stock price and risks associated with the Companyrsquos currency fuel and by-product metal derivative strategies Fora more detailed discussion of such risks and other factors that may affect the Companyrsquos ability to achieve the expectations set forth in the forward-looking statementscontained in this presentation see the AIF and MDampA filed on SEDAR at wwwsedarcom and included in the Form 40-F filed on EDGAR at wwwsecgov as well as theCompanyrsquos other filings with the Canadian securities regulators and the SEC Other than as required by law the Company does not intend and does not assume anyobligation to update these forward-looking statements
Currency
All amounts in this presentation are expressed in US dollars except as otherwise noted
Further Information
For further details on Agnico Eaglersquos third quarter 2018 results please see the Companyrsquos news release dated October 24 2018
2
TD Securities Mining Conference
Notes to InvestorsNote Regarding the Use of Non-GAAP Financial Measures
This presentation discloses certain measures including ldquototal cash costs per ouncerdquo ldquoall-in sustaining costs per ouncerdquo and ldquominesite costs per tonnerdquo that are not standardizedmeasures under IFRS These data may not be comparable to data reported by other issuers For a reconciliation of these measures to the most directly comparable financialinformation reported in the consolidated financial statements prepared in accordance with IFRS and for an explanation of how management uses these measures see ldquoNon-GAAPFinancial Performance Measuresrdquo in the MDampA filed on SEDAR at wwwsedarcom and included in the Form 6-K filed on EDGAR at wwwsecgov as well as the Companyrsquos otherfilings with the Canadian securities regulators and the SEC
The total cash costs per ounce of gold produced is reported on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (withoutdeducting by-product metal revenues) Unless otherwise specified total cash costs per ounce of gold produced is reported on a by-product basis in this presentation The total cashcosts per ounce of gold produced on a by-product basis is calculated by adjusting production costs as recorded in the consolidated statements of income for by-product revenuesunsold concentrate inventory production costs smelting refining and marketing charges and other adjustments and then dividing by the number of ounces of gold produced Thetotal cash costs per ounce of gold produced on a co-product basis is calculated in the same manner as the total cash costs per ounce of gold produced on a by-product basis exceptthat no adjustment is made for by-product metal revenues Accordingly the calculation of total cash costs per ounce of gold produced on a co-product basis does not reflect areduction in production costs or smelting refining and marketing charges associated with the production and sale of by-product metals The total cash costs per ounce of goldproduced is intended to provide information about the cash-generating capabilities of the Companyrsquos mining operations Management also uses these measures to monitor theperformance of the Companyrsquos mining operations As market prices for gold are quoted on a per ounce basis using the total cash costs per ounce of gold produced on a by-productbasis measure allows management to assess a minersquos cash-generating capabilities at various gold prices
All-in sustaining costs per ounce (ldquoAISCrdquo) is used to show the full cost of gold production from current operations The Company calculates all-in sustaining costs per ounce of goldproduced on a by-product basis as the aggregate of total cash costs per ounce on a by-product basis sustaining capital expenditures (including capitalized exploration) general andadministrative expenses (including stock options) and reclamation expenses The all-in sustaining costs per ounce of gold produced on a co-product basis is calculated in the samemanner as the all-in sustaining costs per ounce of gold produced on a by-product basis except that the total cash costs per ounce on a co-product basis are used meaning noadjustment is made for by-product metal revenues Management is aware that these per ounce measures of performance can be affected by fluctuations in foreign exchange ratesand in the case of total cash costs per ounce of gold produced on a by-product basis by-product metal prices Management compensates for these inherent limitations by usingthese measures in conjunction with other data prepared in accordance with IFRS
Minesite costs per tonne are calculated by adjusting production costs as recorded in the consolidated statements of income for unsold concentrate inventory production costs andthen dividing by tonnes of ore processed As the total cash costs per ounce of gold produced can be affected by fluctuations in by product metal prices and foreign exchange ratesmanagement believes that minesite costs per tonne provides additional information regarding the performance of mining operations eliminating the impact of varying productionlevels Management also uses this measure to determine the economic viability of mining blocks As each mining block is evaluated based on the net realizable value of each tonnemined in order to be economically viable the estimated revenue on a per tonne basis must be in excess of the minesite costs per tonne Management is aware that this per tonnemeasure of performance can be impacted by fluctuations in processing levels and compensates for this inherent limitation by using this measure in conjunction with production costsprepared in accordance with IFRS
The Company calculates mine operating profit for a given period by taking the amount equal to the Companyrsquos gold production from its mines multiplied by the differential in the priceof gold over the total cash costs per ounce Management uses mine operating profit as a means of assessing the cash flow generation of the business Estimates of mine operatingprofit in future periods are based on the Companys production guidance total cash cost guidance and internal forecasts as of the date hereof
Note Regarding Production Guidance
The gold production guidance is based on the Companyrsquos mineral reserves but includes contingencies and assumes metal prices and foreign exchange rates that are different fromthose used in the mineral reserve estimates These factors and others mean that the gold production guidance presented in this presentation does not reconcile exactly with theproduction models used to support these mineral reserves
The Companys production guidance at Meliadine is based in part on the results of preliminary economic assessments These preliminary economic assessments include inferredmineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineralreserves and there is no certainty that the production guidance set out in this presentation will be realized The preliminary economic assessment used in respect of the Meliadinemine project included 36 million contained ounces of inferred mineral resource 33 million contained ounces of measured and indicated mineral resource and 34 million containedounces of proven and probable mineral reserve For further information on the Companys production guidance at Meliadine including the qualifications and assumptions made inconnection with the preparation of the assessments please see the Companys press release dated February 14 2018 and the Companys AIF as well as the Companys otherfilings with the Canadian securities regulators and the SEC
3
TD Securities Mining Conference
Building A Long Term Sustainable Self Funding Business
Completion of large expansion in Nunavut in 2019bull Anticipated growth in gold production to 20Moz in 2020
Expect to move from expansion phase to ldquoharvestrdquo mode
Target is to be a self-funded business with steady growth in production per share and cash flow per share
Operating in low-political risk pro-mining jurisdictions
Longer term pipeline provides additional opportunities to add value
Deep ldquobench strengthrdquo ndash broad range of technical skills and experience
4
TD Securities Mining Conference
Agnico Eaglersquos Long-Term Strategy
5
Early-Stage Focusbull Buy early ndash value-add through the drill-bitbull Buy small think big
Technical Focusbull Broad range of technical skillsbull Build own mines
Per Share Focusbull Low share count at ~235M fully diluted
shares outstanding after 61 years
Regional Focusbull Operating in four manageable regionsbull Politically safe long-term potentialbull Leverage off of synergiesbull Best in regions we operate
Consistent Approach that Works
TD Securities Mining Conference
Strong Operating Platform Drives OutperformanceGuidance Exceeded for Six Consecutive Years
6
103106
140
165160
168
104110
143
167 166171
2012 2013 2014 2015 2016 2017
Production Guidance Versus Actual (in Millions)
Production Guidance Production Actual
$500
$550
$600
$650
$700
$750
$800
2012 2013 2014 2015 2016 2017
Total Cash Cost Per Ounce Guidance Versus Actual
Cost Guidance Cost Actual
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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Slide Number 5
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Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Forward Looking StatementsThe information in this presentation has been prepared as at January 11 2019 Certain statements contained in this presentation constitute ldquoforward-looking statementsrdquowithin the meaning of the United States Private Securities Litigation Reform Act of 1995 and ldquoforward-looking informationrdquo under the provisions of Canadian provincialsecurities laws and are referred to herein as ldquoforward-looking statementsrdquo When used in this presentation the words ldquoanticipaterdquo ldquocouldrdquo ldquoestimaterdquo ldquoexpectrdquo ldquoforecastrdquoldquofuturerdquo ldquoplanrdquo ldquopotentialrdquo ldquowillrdquo and similar expressions are intended to identify forward-looking statements Such statements include without limitation the Companysforward-looking production guidance including estimated ore grades project timelines drilling results metal production life of mine estimates total cash costs per ounceall-in sustaining costs per ounce minesite costs per tonne other expenses and cash flows the estimated timing and conclusions of technical reports and other studies themethods by which ore will be extracted or processed statements concerning the Companyrsquos plans to build operations at Meliadine Amaruq LaRonde Zone 5 and theCompanyrsquos expansion plans at Kittila including the timing funding completion and commissioning thereof and production therefrom statements concerning other expansionprojects recovery rates mill throughput optimization and projected exploration expenditures including costs and other estimates upon which such projections are basedstatements regarding timing and amounts of capital expenditures and other assumptions estimates of future mineral reserves mineral resources mineral productionoptimization efforts and sales estimates of mine life estimates of future capital expenditures and other cash needs and expectations as to the funding thereof statementsas to the projected development of certain ore deposits including estimates of exploration development and production and other capital costs and estimates of the timing ofsuch exploration development and production or decisions with respect to such exploration development and production estimates of mineral reserves and mineralresources statements regarding the Companyrsquos ability to obtain the necessary permits and authorizations in connection with its exploration development and miningoperations and the anticipated timing thereof statements regarding anticipated future exploration and the anticipated timing of events with respect to the Companyrsquos minesites and statements regarding the sufficiency of the Companyrsquos cash resources and other statements regarding anticipated trends with respect to the Companysoperations exploration and the funding thereof Such statements reflect the Companyrsquos views as at the date of this presentation and are subject to certain risksuncertainties and assumptions and undue reliance should not be placed on such statements Forward-looking statements are necessarily based upon a number of factorsand assumptions that while considered reasonable by Agnico Eagle as of the date of such statements are inherently subject to significant business economic andcompetitive uncertainties and contingencies The material factors and assumptions used in the preparation of the forward looking statements contained herein which mayprove to be incorrect include but are not limited to the assumptions set forth herein and in managements discussion and analysis (ldquoMDampArdquo) and the Companys AnnualInformation Form (ldquoAIFrdquo) for the year ended December 31 2017 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the yearended December 31 2017 (ldquoForm 40-Frdquo) filed with the US Securities and Exchange Commission (the ldquoSECrdquo) as well as that there are no significant disruptions affectingoperations that production permitting development and expansion at each of Agnico Eagles properties proceeds on a basis consistent with current expectations and plansthat the relevant metal prices foreign exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagles expectations that AgnicoEagles current estimates of mineral reserves mineral resources mineral grades and metal recovery are accurate that there are no material delays in the timing forcompletion of ongoing growth projects that the Companyrsquos current plans to optimize production are successful and that there are no material variations in the current taxand regulatory environment Many factors known and unknown could cause the actual results to be materially different from those expressed or implied by such forwardlooking statements Such risks include but are not limited to the volatility of prices of gold and other metals uncertainty of mineral reserves mineral resources mineralgrades and mineral recovery estimates uncertainty of future production project development capital expenditures and other costs foreign exchange rate fluctuationsfinancing of additional capital requirements cost of exploration and development programs mining risks community protests including by First Nations groups risksassociated with foreign operations the unfavorable outcome of litigation involving the Canadian Malartic General Partnership (the ldquoPartnershiprdquo) governmental andenvironmental regulation the volatility of the Companyrsquos stock price and risks associated with the Companyrsquos currency fuel and by-product metal derivative strategies Fora more detailed discussion of such risks and other factors that may affect the Companyrsquos ability to achieve the expectations set forth in the forward-looking statementscontained in this presentation see the AIF and MDampA filed on SEDAR at wwwsedarcom and included in the Form 40-F filed on EDGAR at wwwsecgov as well as theCompanyrsquos other filings with the Canadian securities regulators and the SEC Other than as required by law the Company does not intend and does not assume anyobligation to update these forward-looking statements
Currency
All amounts in this presentation are expressed in US dollars except as otherwise noted
Further Information
For further details on Agnico Eaglersquos third quarter 2018 results please see the Companyrsquos news release dated October 24 2018
2
TD Securities Mining Conference
Notes to InvestorsNote Regarding the Use of Non-GAAP Financial Measures
This presentation discloses certain measures including ldquototal cash costs per ouncerdquo ldquoall-in sustaining costs per ouncerdquo and ldquominesite costs per tonnerdquo that are not standardizedmeasures under IFRS These data may not be comparable to data reported by other issuers For a reconciliation of these measures to the most directly comparable financialinformation reported in the consolidated financial statements prepared in accordance with IFRS and for an explanation of how management uses these measures see ldquoNon-GAAPFinancial Performance Measuresrdquo in the MDampA filed on SEDAR at wwwsedarcom and included in the Form 6-K filed on EDGAR at wwwsecgov as well as the Companyrsquos otherfilings with the Canadian securities regulators and the SEC
The total cash costs per ounce of gold produced is reported on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (withoutdeducting by-product metal revenues) Unless otherwise specified total cash costs per ounce of gold produced is reported on a by-product basis in this presentation The total cashcosts per ounce of gold produced on a by-product basis is calculated by adjusting production costs as recorded in the consolidated statements of income for by-product revenuesunsold concentrate inventory production costs smelting refining and marketing charges and other adjustments and then dividing by the number of ounces of gold produced Thetotal cash costs per ounce of gold produced on a co-product basis is calculated in the same manner as the total cash costs per ounce of gold produced on a by-product basis exceptthat no adjustment is made for by-product metal revenues Accordingly the calculation of total cash costs per ounce of gold produced on a co-product basis does not reflect areduction in production costs or smelting refining and marketing charges associated with the production and sale of by-product metals The total cash costs per ounce of goldproduced is intended to provide information about the cash-generating capabilities of the Companyrsquos mining operations Management also uses these measures to monitor theperformance of the Companyrsquos mining operations As market prices for gold are quoted on a per ounce basis using the total cash costs per ounce of gold produced on a by-productbasis measure allows management to assess a minersquos cash-generating capabilities at various gold prices
All-in sustaining costs per ounce (ldquoAISCrdquo) is used to show the full cost of gold production from current operations The Company calculates all-in sustaining costs per ounce of goldproduced on a by-product basis as the aggregate of total cash costs per ounce on a by-product basis sustaining capital expenditures (including capitalized exploration) general andadministrative expenses (including stock options) and reclamation expenses The all-in sustaining costs per ounce of gold produced on a co-product basis is calculated in the samemanner as the all-in sustaining costs per ounce of gold produced on a by-product basis except that the total cash costs per ounce on a co-product basis are used meaning noadjustment is made for by-product metal revenues Management is aware that these per ounce measures of performance can be affected by fluctuations in foreign exchange ratesand in the case of total cash costs per ounce of gold produced on a by-product basis by-product metal prices Management compensates for these inherent limitations by usingthese measures in conjunction with other data prepared in accordance with IFRS
Minesite costs per tonne are calculated by adjusting production costs as recorded in the consolidated statements of income for unsold concentrate inventory production costs andthen dividing by tonnes of ore processed As the total cash costs per ounce of gold produced can be affected by fluctuations in by product metal prices and foreign exchange ratesmanagement believes that minesite costs per tonne provides additional information regarding the performance of mining operations eliminating the impact of varying productionlevels Management also uses this measure to determine the economic viability of mining blocks As each mining block is evaluated based on the net realizable value of each tonnemined in order to be economically viable the estimated revenue on a per tonne basis must be in excess of the minesite costs per tonne Management is aware that this per tonnemeasure of performance can be impacted by fluctuations in processing levels and compensates for this inherent limitation by using this measure in conjunction with production costsprepared in accordance with IFRS
The Company calculates mine operating profit for a given period by taking the amount equal to the Companyrsquos gold production from its mines multiplied by the differential in the priceof gold over the total cash costs per ounce Management uses mine operating profit as a means of assessing the cash flow generation of the business Estimates of mine operatingprofit in future periods are based on the Companys production guidance total cash cost guidance and internal forecasts as of the date hereof
Note Regarding Production Guidance
The gold production guidance is based on the Companyrsquos mineral reserves but includes contingencies and assumes metal prices and foreign exchange rates that are different fromthose used in the mineral reserve estimates These factors and others mean that the gold production guidance presented in this presentation does not reconcile exactly with theproduction models used to support these mineral reserves
The Companys production guidance at Meliadine is based in part on the results of preliminary economic assessments These preliminary economic assessments include inferredmineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineralreserves and there is no certainty that the production guidance set out in this presentation will be realized The preliminary economic assessment used in respect of the Meliadinemine project included 36 million contained ounces of inferred mineral resource 33 million contained ounces of measured and indicated mineral resource and 34 million containedounces of proven and probable mineral reserve For further information on the Companys production guidance at Meliadine including the qualifications and assumptions made inconnection with the preparation of the assessments please see the Companys press release dated February 14 2018 and the Companys AIF as well as the Companys otherfilings with the Canadian securities regulators and the SEC
3
TD Securities Mining Conference
Building A Long Term Sustainable Self Funding Business
Completion of large expansion in Nunavut in 2019bull Anticipated growth in gold production to 20Moz in 2020
Expect to move from expansion phase to ldquoharvestrdquo mode
Target is to be a self-funded business with steady growth in production per share and cash flow per share
Operating in low-political risk pro-mining jurisdictions
Longer term pipeline provides additional opportunities to add value
Deep ldquobench strengthrdquo ndash broad range of technical skills and experience
4
TD Securities Mining Conference
Agnico Eaglersquos Long-Term Strategy
5
Early-Stage Focusbull Buy early ndash value-add through the drill-bitbull Buy small think big
Technical Focusbull Broad range of technical skillsbull Build own mines
Per Share Focusbull Low share count at ~235M fully diluted
shares outstanding after 61 years
Regional Focusbull Operating in four manageable regionsbull Politically safe long-term potentialbull Leverage off of synergiesbull Best in regions we operate
Consistent Approach that Works
TD Securities Mining Conference
Strong Operating Platform Drives OutperformanceGuidance Exceeded for Six Consecutive Years
6
103106
140
165160
168
104110
143
167 166171
2012 2013 2014 2015 2016 2017
Production Guidance Versus Actual (in Millions)
Production Guidance Production Actual
$500
$550
$600
$650
$700
$750
$800
2012 2013 2014 2015 2016 2017
Total Cash Cost Per Ounce Guidance Versus Actual
Cost Guidance Cost Actual
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Notes to InvestorsNote Regarding the Use of Non-GAAP Financial Measures
This presentation discloses certain measures including ldquototal cash costs per ouncerdquo ldquoall-in sustaining costs per ouncerdquo and ldquominesite costs per tonnerdquo that are not standardizedmeasures under IFRS These data may not be comparable to data reported by other issuers For a reconciliation of these measures to the most directly comparable financialinformation reported in the consolidated financial statements prepared in accordance with IFRS and for an explanation of how management uses these measures see ldquoNon-GAAPFinancial Performance Measuresrdquo in the MDampA filed on SEDAR at wwwsedarcom and included in the Form 6-K filed on EDGAR at wwwsecgov as well as the Companyrsquos otherfilings with the Canadian securities regulators and the SEC
The total cash costs per ounce of gold produced is reported on both a by-product basis (deducting by-product metal revenues from production costs) and co-product basis (withoutdeducting by-product metal revenues) Unless otherwise specified total cash costs per ounce of gold produced is reported on a by-product basis in this presentation The total cashcosts per ounce of gold produced on a by-product basis is calculated by adjusting production costs as recorded in the consolidated statements of income for by-product revenuesunsold concentrate inventory production costs smelting refining and marketing charges and other adjustments and then dividing by the number of ounces of gold produced Thetotal cash costs per ounce of gold produced on a co-product basis is calculated in the same manner as the total cash costs per ounce of gold produced on a by-product basis exceptthat no adjustment is made for by-product metal revenues Accordingly the calculation of total cash costs per ounce of gold produced on a co-product basis does not reflect areduction in production costs or smelting refining and marketing charges associated with the production and sale of by-product metals The total cash costs per ounce of goldproduced is intended to provide information about the cash-generating capabilities of the Companyrsquos mining operations Management also uses these measures to monitor theperformance of the Companyrsquos mining operations As market prices for gold are quoted on a per ounce basis using the total cash costs per ounce of gold produced on a by-productbasis measure allows management to assess a minersquos cash-generating capabilities at various gold prices
All-in sustaining costs per ounce (ldquoAISCrdquo) is used to show the full cost of gold production from current operations The Company calculates all-in sustaining costs per ounce of goldproduced on a by-product basis as the aggregate of total cash costs per ounce on a by-product basis sustaining capital expenditures (including capitalized exploration) general andadministrative expenses (including stock options) and reclamation expenses The all-in sustaining costs per ounce of gold produced on a co-product basis is calculated in the samemanner as the all-in sustaining costs per ounce of gold produced on a by-product basis except that the total cash costs per ounce on a co-product basis are used meaning noadjustment is made for by-product metal revenues Management is aware that these per ounce measures of performance can be affected by fluctuations in foreign exchange ratesand in the case of total cash costs per ounce of gold produced on a by-product basis by-product metal prices Management compensates for these inherent limitations by usingthese measures in conjunction with other data prepared in accordance with IFRS
Minesite costs per tonne are calculated by adjusting production costs as recorded in the consolidated statements of income for unsold concentrate inventory production costs andthen dividing by tonnes of ore processed As the total cash costs per ounce of gold produced can be affected by fluctuations in by product metal prices and foreign exchange ratesmanagement believes that minesite costs per tonne provides additional information regarding the performance of mining operations eliminating the impact of varying productionlevels Management also uses this measure to determine the economic viability of mining blocks As each mining block is evaluated based on the net realizable value of each tonnemined in order to be economically viable the estimated revenue on a per tonne basis must be in excess of the minesite costs per tonne Management is aware that this per tonnemeasure of performance can be impacted by fluctuations in processing levels and compensates for this inherent limitation by using this measure in conjunction with production costsprepared in accordance with IFRS
The Company calculates mine operating profit for a given period by taking the amount equal to the Companyrsquos gold production from its mines multiplied by the differential in the priceof gold over the total cash costs per ounce Management uses mine operating profit as a means of assessing the cash flow generation of the business Estimates of mine operatingprofit in future periods are based on the Companys production guidance total cash cost guidance and internal forecasts as of the date hereof
Note Regarding Production Guidance
The gold production guidance is based on the Companyrsquos mineral reserves but includes contingencies and assumes metal prices and foreign exchange rates that are different fromthose used in the mineral reserve estimates These factors and others mean that the gold production guidance presented in this presentation does not reconcile exactly with theproduction models used to support these mineral reserves
The Companys production guidance at Meliadine is based in part on the results of preliminary economic assessments These preliminary economic assessments include inferredmineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineralreserves and there is no certainty that the production guidance set out in this presentation will be realized The preliminary economic assessment used in respect of the Meliadinemine project included 36 million contained ounces of inferred mineral resource 33 million contained ounces of measured and indicated mineral resource and 34 million containedounces of proven and probable mineral reserve For further information on the Companys production guidance at Meliadine including the qualifications and assumptions made inconnection with the preparation of the assessments please see the Companys press release dated February 14 2018 and the Companys AIF as well as the Companys otherfilings with the Canadian securities regulators and the SEC
3
TD Securities Mining Conference
Building A Long Term Sustainable Self Funding Business
Completion of large expansion in Nunavut in 2019bull Anticipated growth in gold production to 20Moz in 2020
Expect to move from expansion phase to ldquoharvestrdquo mode
Target is to be a self-funded business with steady growth in production per share and cash flow per share
Operating in low-political risk pro-mining jurisdictions
Longer term pipeline provides additional opportunities to add value
Deep ldquobench strengthrdquo ndash broad range of technical skills and experience
4
TD Securities Mining Conference
Agnico Eaglersquos Long-Term Strategy
5
Early-Stage Focusbull Buy early ndash value-add through the drill-bitbull Buy small think big
Technical Focusbull Broad range of technical skillsbull Build own mines
Per Share Focusbull Low share count at ~235M fully diluted
shares outstanding after 61 years
Regional Focusbull Operating in four manageable regionsbull Politically safe long-term potentialbull Leverage off of synergiesbull Best in regions we operate
Consistent Approach that Works
TD Securities Mining Conference
Strong Operating Platform Drives OutperformanceGuidance Exceeded for Six Consecutive Years
6
103106
140
165160
168
104110
143
167 166171
2012 2013 2014 2015 2016 2017
Production Guidance Versus Actual (in Millions)
Production Guidance Production Actual
$500
$550
$600
$650
$700
$750
$800
2012 2013 2014 2015 2016 2017
Total Cash Cost Per Ounce Guidance Versus Actual
Cost Guidance Cost Actual
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
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Slide Number 32
Slide Number 33
Slide Number 34
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Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Building A Long Term Sustainable Self Funding Business
Completion of large expansion in Nunavut in 2019bull Anticipated growth in gold production to 20Moz in 2020
Expect to move from expansion phase to ldquoharvestrdquo mode
Target is to be a self-funded business with steady growth in production per share and cash flow per share
Operating in low-political risk pro-mining jurisdictions
Longer term pipeline provides additional opportunities to add value
Deep ldquobench strengthrdquo ndash broad range of technical skills and experience
4
TD Securities Mining Conference
Agnico Eaglersquos Long-Term Strategy
5
Early-Stage Focusbull Buy early ndash value-add through the drill-bitbull Buy small think big
Technical Focusbull Broad range of technical skillsbull Build own mines
Per Share Focusbull Low share count at ~235M fully diluted
shares outstanding after 61 years
Regional Focusbull Operating in four manageable regionsbull Politically safe long-term potentialbull Leverage off of synergiesbull Best in regions we operate
Consistent Approach that Works
TD Securities Mining Conference
Strong Operating Platform Drives OutperformanceGuidance Exceeded for Six Consecutive Years
6
103106
140
165160
168
104110
143
167 166171
2012 2013 2014 2015 2016 2017
Production Guidance Versus Actual (in Millions)
Production Guidance Production Actual
$500
$550
$600
$650
$700
$750
$800
2012 2013 2014 2015 2016 2017
Total Cash Cost Per Ounce Guidance Versus Actual
Cost Guidance Cost Actual
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Agnico Eaglersquos Long-Term Strategy
5
Early-Stage Focusbull Buy early ndash value-add through the drill-bitbull Buy small think big
Technical Focusbull Broad range of technical skillsbull Build own mines
Per Share Focusbull Low share count at ~235M fully diluted
shares outstanding after 61 years
Regional Focusbull Operating in four manageable regionsbull Politically safe long-term potentialbull Leverage off of synergiesbull Best in regions we operate
Consistent Approach that Works
TD Securities Mining Conference
Strong Operating Platform Drives OutperformanceGuidance Exceeded for Six Consecutive Years
6
103106
140
165160
168
104110
143
167 166171
2012 2013 2014 2015 2016 2017
Production Guidance Versus Actual (in Millions)
Production Guidance Production Actual
$500
$550
$600
$650
$700
$750
$800
2012 2013 2014 2015 2016 2017
Total Cash Cost Per Ounce Guidance Versus Actual
Cost Guidance Cost Actual
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Strong Operating Platform Drives OutperformanceGuidance Exceeded for Six Consecutive Years
6
103106
140
165160
168
104110
143
167 166171
2012 2013 2014 2015 2016 2017
Production Guidance Versus Actual (in Millions)
Production Guidance Production Actual
$500
$550
$600
$650
$700
$750
$800
2012 2013 2014 2015 2016 2017
Total Cash Cost Per Ounce Guidance Versus Actual
Cost Guidance Cost Actual
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Focused on Growing Value on a per Share BasisConsistent Strategy that Works
7
11 NAVPS CAGR from 2005 to 2017 versus 2 NAVPS CAGR of peers
11
4 3 3 2 20
-1-2
-5
0
5
10
15NAVPS Compound Annual Growth Rate
(2005 ndash 2017)
-
10
20
30
40
50
60
70
80
90
100
Source Scotiabank Global Banking and Markets Bloomberg
Production per 1000 Shares CAGR from 2005 to 2020E of 844
Compound Annual Growth Rate (ldquoCAGRrdquo)
Production per 1000 shares
Source Company reports
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Mining below reserve grade in 2018 184 grams per tonne (ldquogtrdquo) gold mined for Q3 2018 YTD compared to reserve grade of 249
gt gold Large percentage of current mineral reserves are mineable at total cash costs below $900oz 2017 gold mineral reserves increased by 31 to 206Moz of gold (average reserve grade 249 gt) Reserve sensitivity to gold price
$100oz change in the gold price assumption results in ~5 change in mineral reserves
Focused on Maintaining Quality Gold ReservesSuccessfully Replaced Gold Reserves in 2017 with Higher Grades
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 news release
Source Company reports Raymond James ResearchSource Company reports as at December 31 2017
249
155120 114 107
091073
051
AEM
ABX
IAG
NEM
AVER
AGE
GG
KGC
AUY
Gold Mineral Reserve Grade (gt)
-28-20 -17
10
23
44 45 47
NG
D
IAG
AEM
NEM AB
X
YRI
KGC
GG
5-Year Difference Between Production and Gold Mineral Reserve Grade
8
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
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Slide Number 7
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Slide Number 32
Slide Number 33
Slide Number 34
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Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Nunavut Strategy
Nunavut Assets Provide Production Growth in 2019 and Beyond
9
Detailed information on mineral reserves and mineral resources can be found in the February 14 2018 press release
20 of Canadarsquos land mass (~20M km2) with a population of ~35000
Agnico Eagle in Nunavut Acquired Meadowbank in 2007 operating since
2010 Upwards of ~700koz-800koz potential annual
production from Meliadine and Amaruq satellite deposit to Meadowbank
Competitive Advantage Over 10 years experience in the region Logistics from AbitibiMontreal Infrastructure Relationships with governments permitting
community and suppliers
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Transitioning to Higher Production and Lower Costs by 2020 Pipeline Expected to Drive Future Production GrowthExpect to Produce Approximately 20 Million Ounces of Gold in 2020
1600 1700
2000
0
500
1000
1500
2000
2500
2018E 2019E 2020E 2021E - 2022E
Gol
d O
unce
s (in
Tho
usan
ds)
Pipeline Projects
2018ETCC $650
AISC $9152020E
TCC $625AISC $850
TCC = total cash costs AISC = all-in sustaining costs
Near-Term Pipeline Projects
LaRonde 3
Evaluating a phased development approach(below the depth of 31 to 35 km) where anadditional two or three levels will bedeveloped per year through 2022
GoldexDeep 2 and South Zone
Exploration and ramp development underwayto assess potential to mine portions of theDeep 2 Zone and South Zone
AmaruqUnderground
Underground ramping underway to carry outadditional exploration drilling and assess thepotential for underground mining at both theWhale Tail and V zones
KittilaExpansion
Expansion to 20 mtpa which is expected toresult in ~25 increase in gold productionstarting in 2021
Pinos Altos Creston Mascota
Evaluation of satellite zones including CubiroReyna de Plata and Madrono
La India Evaluation of satellite zones including ElRealito
10
+
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference 11
Development Pipeline Expected to Provide Further Production Growth Beyond 2022
MinesiteRegion Opportunity
Goldex Evaluation of the Deep 3 Zone (below 1500 metres)
Canadian Malartic (50) Exploring the Odyssey and East Malartic properties to evaluate potential underground mining scenarios
Kittila Further optimization of underground mine and development of the lower mine with shaft access (below1000 metres)
MeadowbankAmaruq Continued evaluation of the regional potential at Amaruq
Meliadine Further drill testing of known zones and gold occurrences on the 80-kilometre-long greenstone belt
Barsele Testing additional gold mineralized zones and VMS targets to evaluate production potential
Kirkland Lake Additional drilling and technical reviews underway to evaluate potential mining scenarios at UpperBeaver andor Upper Canada
Hammond Reef Potential for production in a higher gold price environment
Santa Gertrudis Evaluation of known mineralized trends with a view to potentially restart operations at this pastproducing heap leach mine
El Barqueno Continue mineral resource expansion and studies to potentially define an initial development plan
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Growing Business Positioned to Generate Net Free Cash Flow ndash Self-Funding Business Model
Potential uses of rising cash flowbull Re-pay debtbull Increase dividends
Growing business through self-funded pipeline projects
Mine Operating Profit = ounces x (gold price ndash total cash costs per ounce) Estimated Mine Operating Profit was based on a gold price of $1250
For further details on growth capex guidance related to the Amaruq Meliadine and the Kittila Expansion projects for 2019 and onwards please refer to the news release dated February 14 2018
12
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Financial PositionStrong Financial Liquidity Underpins Current Growth Phase
Strong Available Liquidity - $17B
As at September 30 2018 excluding accordion
As at September 30 2018 theCompany had strong liquidity with$533 million in cash and cashequivalents and $12 billion inundrawn credit lines
Low share count of 235 million fullydiluted shares after 61 years ofoperating history
As at September 30 2018
$533
$1200
Cash and cash equivalents Undrawn credit facilities
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Growing Business Positioned to Potentially Grow DividendsThirty-Five Years of Consecutive Dividends
$-
$200
$400
$600
$800
$1000
$1200
$1400
$1600
$1800
$-
$20000
$40000
$60000
$80000
$100000
$120000
$140000
$160000
$180000
$200000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(In T
hous
ands
)
Total Annual Dividend Average Gold Price
$855M in cumulative
dividends over the last 35 years
14
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
AEM US Equity XAU Index Gold Spot
AEM US EquityCAGR
1164Gold Spot CAGR
769XAU Index CAGR
074
Superior Share Performance Since 1998Agnico Eagle has Consistently Outperformed Gold and Gold Equities
Source Bloomberg ndash August 3 1998 to January 11 2019
15
10
100
1000
10000
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
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TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Agnico Eagle ndash A High Quality Low Risk Growth Story
Competitive Position Growing Production Base High Quality Long Life Assets and Proven Value Creating Strategy Strong operational performance meeting or exceeding targets and generating significant
cash flow with strong safety performance
Gold reserves growing and gold grades improving Expect ongoing conversion of MampI mineral resources into mineral reserves at key operations
Anticipated growth in gold production to 20Moz in 2020 drives rising free cash flow Upside beyond 20Moz of gold Growth from assets we currently own in areas we currently operate Funded by cash on hand operating cash flow and if needed drawing on line of credit
Low political risk in stable pro-mining jurisdictions
Project pipeline provides additional opportunities to add value longer term
Broad range of technical skills and experience to deliver on plan with achievable targets16
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
Click to edit Master title style
TD Securities Mining Conference
Appendix
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Third Quarter 2018 Highlights
Strong quarterly production and cost performance continues - Payable gold production in Q3 2018 was 421718 ouncesat production costs per ounce of $657 total cash costs per ounce of $637 and AISC of $848 per ounce
Production guidance increased for 2018 and 2019 - Production guidance is now forecast to be ~160Mozs of gold in 2018compared to previous guidance of 158Mozs Total cash costs per ounce and AISC are expected to be at or slightly below themid-point of the 2018 guidance range ($625 to $675 per ounce and $890 to $940 per ounce respectively) Given the positivedevelopment progress in Nunavut 2019 production guidance is now forecast to exceed the mid-point of the current guidancerange (163 to 177 million ounces) The Company will update its 2019 production guidance in February 2019
Meliadine on budget and slightly ahead of schedule - At the end of Q3 2018 construction was 89 completed andunderground development was proceeding as planned Commissioning of the process plant is expected to begin in Q1 2019followed by the expected commencement of commercial production in Q2 2019
Amaruq continues to advance on schedule and on budget for 2018 - Expansion of the haulage road and exteriorconstruction activities are scheduled to be completed in the fourth quarter of 2018 The first ore is expected to be mined earlyin Q2 2019 with initial production from the Whale Tail deposit expected to begin in Q3 2019
Drilling at Amaruq continues to expand mineralized zones at depth further highlighting the potential for miningunderground - Recent drilling cut 196 gt gold over 56 metres at 656 metres depth expanding the V Zone westward atdepth Confirmation drilling in the Whale Tail North deposit returned 195 gt gold over 70 metres at 477 metres depthIntercepts such as 142 gt gold over 51 metres at 698 metres depth reopen and expand the deep potential of the Whale Taildeposit to the west Underground ramp development is continuing at Amaruq and the Company is evaluating potentialunderground mining scenarios
A quarterly dividend of $011 per share was declared
18
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Operating ResultsStable Operational Performance
Q3 2018 Total Operating Margin ndash $2418MQ3 2018 Revenue by MetalLaRonde 27
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
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Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Diversified OperationsRobust Production in Premier Mining Jurisdictions in North America and Europe
Source Company filingsNote Production is for fiscal year 2017 Mineral Reserves and Mineral Resources as of December 31 2017
1 LaRonde mineral reserves and mineral resources are inclusive of LaRonde Zone 52 Totals are indicative of total producing developing and exploration assets
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
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Slide Number 32
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Slide Number 34
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Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
17
24
3133
41 4144
51
59
86
0
10
20
30
40
50
60
70
80
90
100
AEM NEM ABX GG AUY NGD KGC IMG EGO CG
Fras
er In
stitu
te C
ompa
ny S
core
Source Bloomberg Fraser Institute
Low Political Risk Mining Friendly Jurisdictions
21
TD Securities Mining Conference
Successful MampA and Exploration Strategy Significant Value Added Key Deposits Still Open and Positioned to Deliver More Value
For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Successful MampA and Exploration Strategy Significant Value Added Key Deposits Still Open and Positioned to Deliver More Value
For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Weighted average cost of purchased ounces ~$116ozWeighted average cost of discovered ounces ~$31oz
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
Click to edit Master title style
TD Securities Mining Conference
Northern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde
262664 ozs at a production cost of $644oz and total cash costs of $446oz
bull Gold production in Q3 2018 decreased when compared to the prior-year period due to lower tonnage and lower grades resulting from themining sequence
bull Following the successful deployment of the LTE network at LaRonde Zone 5 the Company is installing a similar network at LaRondeFull coverage below level 269 is expected to be in place by the end of 2018 and the technology will be evaluated for use at LaRonde 3
bull The Company is also evaluating the potential to develop Zone 11-3 which is at depth in the past producing Bousquet 2 mine This zonecurrently hosts an indicated mineral resource of ~126000 ounces of gold (824800 tonnes grading 476 gt gold) and could provideadditional production flexibility for the LaRonde complex
Canadian Malartic (50)
263868 ozsat a production cost of $563oz and total cash costs of $558oz
bull Gold production in the Q3 2018 increased when compared to the prior-year period due to higher throughput and higher grades partiallyoffset by slightly lower gold recoveries
bull Work on the Barnat extension project is proceeding on budget and on schedule Work is primarily focused on the highway 117 roaddeviation overburden stripping and tailings expansion Production activities at Barnat are scheduled to begin in late 2019
Goldex
89659 ozsat a production cost of $656oz and total cash costs of $654oz
bull Drilling and development is ongoing in the South Zone which is accessible from the Deep 1 Zone infrastructure The South Zoneconsists of quartz veins that have higher grades than those in the primary mineralized zones at Goldex
bull The Company is evaluating the potential for the South Zone to provide incremental ore feed to the Goldex mill Additional developmentcontinued at level 106 as a result of better than expected grades The Company believes that there is potential to increase miningthroughput from the South Zone A test stope in the South Zone is expected to be mined in Q4 2018
bull The Company continues to review the timeline for the integration of the Akasaba West project into the Goldex production profile
Lapa
26719 ozsat a production cost of $649oz and total cash costs of $916oz
bull Mining operations at Lapa are forecast to continue to December 2018 with ore stockpiled in October and November expected to beprocessed in December As a result gold production from Lapa for the full year 2018 is now forecast to exceed 30000 ounces (previousguidance was 25000 ounces)
bull Underground closure will commence once mining operations have ceased and is expected be completed in early 2019 Surface closure isexpected to begin in Q2 2019
Abitibi Region
24For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
134 days of milling
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
NunavutProduction Q3 YTD 2018
Production and Costs
Highlights
Meadowbank
189333 ozs at a production cost of $881oz and total cash costs of $839oz
bull Gold production in Q3 2018 was better than Q2 2018 as a result of higher grades and increased tonnage During the quarter miningactivities were carried out at both the Vault and Portage deposits and in addition ore was sourced from the marginal stockpile For allthree sources of ore grades were slightly better than expected
bull Tonnage in Q3 2018 was better than expected due to the operation of the secondary crusher and a higher ratio of Portage ore (softer)versus Vault ore processed
Production Q3 YTD 2018 Production and Costs
Highlights
LaRonde Zone 5 (LZ5)
8424 ozsat a production cost of $791oz and total cash costs of $842oz
bull Mining will continue at LZ5 over the balance of 2018 but in order to maximize production (tonnage and ounces) ore from LZ5 will bebatch processed with ore from Lapa until the end of 2018 Currently stockpiled ore from LZ5 is expected to be processed in October andNovember
bull Productivity at LZ5 is slightly better than expected Dilution and mining recovery are slightly better than anticipated while mill recovery ishigher than forecast
bull The LZ5 full production fleet was commissioned in Q3 2018 (two trucks and one scoop tram) Pilot testing of automated mining isexpected to start in Q4 2018 for both trucks and the scoop tram
FinlandProduction Q3 YTD 2018
Production and Costs
Highlights
Kittila
139626 ozs at a production cost of $864oz and total cash costs of $876oz
bull Despite record quarterly mill throughput gold production in Q3 2018 decreased when compared to the prior-year period due to lower grades and recoveries Grades are expected to remain slightly below guidance for the remainder of 2018 primarily due to the mining sequence The lower grades are expected to be partially offset by higher throughput
bull An 8-10 day scheduled autoclave maintenance shutdown will be carried out in late October 2018bull In February 2018 an underground shaft and mill expansion to increase throughput rates at Kittila was approved This expansion is
progressing on schedule and on budget Shaft raise boring for the first 325 metres was completed in August and slashing is expected to start at the end of October Phase 1 of the mill expansion remains on schedule and on budget Engineering was finalized in Q3 2018 and civil and structural work has begun
Abitibi Region
25For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
61 days of milling
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Construction activities related to the Whale Tail dike andoverburden and waste stripping for Phase 1 of the Whale Tail Pitbegan in July 2018 Work in Q3 2018 included process plantmodifications expansion of the haulage road construction of apermanent camp and a new mobile maintenance shop Roadand exterior construction activities are expected to be completedby year-end 2018
Recent drilling at Amaruq intersected 196 gt gold over 56metres at 656 metres depth expanding the V Zone westward atdepth A hole in the Whale Tail North deposit returned 195 gtgold over 70 metres at 477 metres depth which could expandthe mineral resources outline
Given ongoing positive drill results from Whale Tail and V-Zonedeposits at depth and the potential to develop an undergroundmining scenario at Amaruq in Q3 2018 the Company begancapitalizing underground ramp expenditures
The Whale Tail Expansion permitting process for open pit miningactivities at the V Zone and Whale Tail underground commencedon October 15 2018
26
Exterior Construction Expected to be Completed inDecember 2018 Underground Ramp Progressing WellExploration Continues to Extend Whale Tail and V Zones atDepth
Amaruq Project Update
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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Slide Number 2
Slide Number 3
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Slide Number 5
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Slide Number 7
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Slide Number 14
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Slide Number 19
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Slide Number 24
Slide Number 25
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Slide Number 27
Slide Number 28
Slide Number 29
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Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
At September 30 2018 site construction was 89 completeand underground development activities were progressing asplanned
During Q3 2018 the sealift was largely completed as was theRankin Inlet bypass road Hauling of materials to site can nowproceed on a 24-hour basis
Production drilling for the first stope began on September 192018 ahead of schedule by approximately two weeks Fourstopes are expected to be completed by year-end 2018 Theprocess plant is expected to start up using a 150000 to200000-tonne stockpile of development ore gradingapproximately 85 gt gold
The project remains on budget and slightly ahead of schedulefor the commencement of commercial production in the secondquarter of 2019 The estimated capital budget for 2018 isunchanged at $398 million
27
Sealift Completed Construction Activities are SlightlyAhead of Schedule and on Budget Potential to AccelerateCommencement of Production
Meliadine Project Update
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
Click to edit Master title style
TD Securities Mining Conference
Southern Business
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Production Q3 YTD 2018 Production and Costs
Highlights
Pinos Altos
131887 ozs at a production cost of $782oz and total cash costs of $560oz
bull The Sinter and Cubiro satellite deposits at Pinos Altos continued to advance in Q3 2018 At Sinter underground development has begun with 400 metres of lateral development and ancillary drifts completed Initial production from Sinter is expected to commence in Q4 2018
bull At the Cubiro deposit access road construction was completed in Q3 2018 Ramp development preparation began in September and 460 metres of underground development is planned to start in Q4 2018 Underground exploration and delineation drilling is expected to commence in 2019
bull The Company is currently installing an ore sorting pilot plant with the goal of improving feed grades to the processing facilities Testing is expected to begin in late October and continue for approximately six months Samples will be processed from all the ore bodies to determine the merits of implementing the technology Similar ore sorting pilot testing is being considered in the Companys other operating regions
Creston Mascota
28728 ozsat a production cost of $982oz and total cash costs of $882oz
bull Mining at the main Bravo pit began in September The Company expects to increase production levels and gold grades by in Q4 2018bull A new waste rock storage site has been located closer to the Bravo deposit which is expected to reduce waste haulage costs Permits
for this new waste dump are expected to be received by the end of 2018bull Work relating to the Phase V heap leach pad expansion was paused from mid-August to late September as a result of the rainy season
The heap leach pad expansion is ongoing and proceeding on budget with completion now expected in Q4 2018
La India
75049 ozsat a production cost of $683oz and total cash costs of $682oz
bull Optimization work on the La India adsorption desorption and recovery plant and commissioning of the carbon regeneration kiln wascompleted in the third quarter of 2018 These modifications to the plant contributed to the higher gold production in the quarter
bull Detailed engineering regarding the heap leach expansion is in progress and is expected to be completed by late October withconstruction to begin in Q4 2018 Completion of the heap leach expansion is expected in Q2 2019
bull Drilling at El Realito in Q3 2018 focused on testing targets outside the current pit margin Hole INER18-203 intersected 12 gt gold and15 gt silver over 74 metres at 30 metres depth in the northwest part of the zone outside of the current mineral resources area The ElRealito mineralized system remains open along strike (northeast and southwest) and shows significant potential at depth
Mexico Operations
29For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
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Slide Number 7
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Slide Number 14
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Slide Number 25
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Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Exploration and Development
Highlights
El Barqueno
bull El Barqueno is estimated to contain 327000 ounces of gold and 13 million ounces of silver in indicated mineral resources (80 million tonnes grading 127 gt gold and 496 gt silver) and 318000 ounces of gold and 49 million ounces of silver in inferred mineral resources (82 million tonnes grading 121 gt gold and 1844 gt silver)
bull Approximately 35000 metres of drilling is expected to be completed in 2018 with a principle focus on testing new target areas Exploration expenditures in 2018 are expected to total approximately $97 million
bull Agnico Eagle believes that El Barqueno ultimately has the potential to be developed into a series of open pits utilizing heap leach andor mill processing similar to the Pinos Altos mine
Santa Gertrudis
bull Agnico Eagle holds a 100 interest in the 42000-hectare Santa Gertrudis gold property that is located about 180 km north of Hermosillo in Sonora Mexico bull The property was the site of a historical heap leach operation that produced ~565000 ounces of gold at a grade of 21 gt gold from 1991 to 1994 As a past
producer substantial surface infrastructure is already in place including pre-stripped pits haul roads water sources and buildings bull Three favorable geological trends with a potential strike length of 18 km have been identified with limited drilling between deposits The 2018 exploration program at
the project consists of 28000 metres of drilling at a budget of approximately $72 millionbull In Q3 2018 13120 metres were drilled in 89 holes mainly in the Becerros Toro Escondida Viviana and Trinidad zones Drilling to validate the historic mineral
resource has now been completed and exploration will now focus on mineral resource expansion and testing new target areas like Centauro where a recent hole returned 70 gt gold over 40 metres
Mexico Exploration and Development Projects
30For a full detailed description of mineral reserves and mineral resources please see the Companyrsquos news release dated February 14 2018
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
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Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
Click to edit Master title style
TD Securities Mining Conference
Innovation
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
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Slide Number 13
Slide Number 14
Slide Number 15
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Slide Number 17
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Slide Number 19
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Slide Number 24
Slide Number 25
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Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Innovation Is an Area of Long Term Strategic Focus at Agnico Eagle
Collaborating with industry to advance innovative solutions
Examining and implementing multiple new (for Agnico Eagle) technologies
LTE (Long Term Evolution) network Improved wireless communication
bull Deployed at LZ5 and will be tested on automated mining equipment (evaluating potential to be employed at LaRonde 3)
Rail-Veyor Lower cost ore transportation
bull Deployed at Goldex evaluating use at other mines
Ore sorting Improve quality of low-grade ore convert waste to ore
bull Preparing for pilot plant implementation
Mechanical cutting Improve development rates at lower costs
bull Closely following technology pilot to assess fit
Energy management Reduce cost and environmental footprint
bull Examining renewable energy solutions in Nunavut and Mexico
32
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
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Slide Number 14
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Slide Number 21
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Slide Number 27
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Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Agnico Eaglersquos Global Approach to Energy Management
33
Areas of Study
Developing a global approach for energy management across Agnico Eaglersquos operations to reduce energy costs at select regions by up to 30 and lower greenhouse gas emissions
Nunavut
‒ WindSolar ‒ Liquefied Natural Gas (LNG)‒ Hydro‒ Southern power link
Mexico
‒ Examining solutions (ie solar power) to increase renewable sources of energy in Mexico
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
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Slide Number 7
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Slide Number 13
Slide Number 14
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Slide Number 19
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Slide Number 25
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Slide Number 27
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Slide Number 29
Slide Number 30
Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
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Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
Click to edit Master title style
TD Securities Mining Conference
ESG Initiatives
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
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Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
Slide Number 23
Slide Number 24
Slide Number 25
Slide Number 26
Slide Number 27
Slide Number 28
Slide Number 29
Slide Number 30
Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Committed to Being a Leader in Sustainable Development
Active participation in leading management and disclosure initiatives
35
Recognized by independent ESG ratings agencies for our leading industry practices
ENVIRONMENTAL SOCIAL GOVERNANCE
We focus on limiting our environmental impacts bybull using natural resources
efficiently bull preventing or limiting emissions bull reducing waste
We identify analyze and manage our environmental risks
We act in a socially responsible manner and contribute to the communities in which we operate
We are committed to working with our employees and other stakeholders to create growth and prosperity
We work in a transparent manner with local stakeholders
We act in an ethically responsible manner and uphold our core values using ourbull Code of Business Conduct bull Ethics amp anti-corruption
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
Slide Number 9
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Slide Number 11
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
Slide Number 23
Slide Number 24
Slide Number 25
Slide Number 26
Slide Number 27
Slide Number 28
Slide Number 29
Slide Number 30
Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference 36
2017 ESG Performance Highlights
Health and Safetybull Perfect score at La India and Lapa with a 0 combined accident frequency for 2017bull Zero lost-time accidents at Goldexbull Best health and safety year ever for Kittilabull In 2017 the Lapa mine while preparing for closure won the John T Ryan Trophy for
improved safety performance
Environmentbull A new euro215M water treatment facility built and commissioned at the Kittila mine one of
the largest environmental investments made in Finland in recent yearsbull 4th Industria Limpia certification for Pinos Altos and Creston Mascota (from PROFEPA)bull Agnico Eaglersquos Mining Reclamation team won the Tom Peters award for outstanding
achievement in the practice of mine reclamation in Ontario
Socialbull Corporate Social Responsibility recognition for the 10th consecutive year in Mexicobull Recognized with the Mexico Without Child Labour Awardbull Since 2009 $34M in community investmentbull 37 of our Meadowbank mine workforce drawn from the Kivalliq region of Nunavutbull 100 of our Pinos Altos and La India mine workforce from Mexico
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
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Slide Number 13
Slide Number 14
Slide Number 15
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Slide Number 17
Slide Number 18
Slide Number 19
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Slide Number 21
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Slide Number 24
Slide Number 25
Slide Number 26
Slide Number 27
Slide Number 28
Slide Number 29
Slide Number 30
Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
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MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
Slide Number 9
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Slide Number 11
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
Slide Number 23
Slide Number 24
Slide Number 25
Slide Number 26
Slide Number 27
Slide Number 28
Slide Number 29
Slide Number 30
Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
100
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
Slide Number 2
Slide Number 3
Slide Number 4
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
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Slide Number 14
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Slide Number 17
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Slide Number 19
Slide Number 20
Slide Number 21
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Slide Number 24
Slide Number 25
Slide Number 26
Slide Number 27
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Slide Number 31
Slide Number 32
Slide Number 33
Slide Number 34
Slide Number 35
Slide Number 36
Slide Number 37
December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
MINERAL RESOURCES
OPERATIONS
MEASURED
INDICATED
MEASURED amp INDICATED
INFERRED
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
0
0
7789
538
1348
7789
538
1348
5285
549
932
LaRonde Zone 5
Underground
100
0
0
9306
242
724
9306
242
724
2826
533
485
Ellison
Underground
100
0
0
651
325
68
651
325
68
2323
339
253
Canadian Malartic
Open Pit
50
295
045
4
1008
046
15
1303
046
19
1105
096
34
Canadian Malartic
Underground
50
1742
148
83
9969
169
543
11711
166
626
3713
167
200
Canadian Malartic Total
2037
133
87
10977
158
558
13014
154
645
4818
151
234
Odyssey
Underground
50
0
0
108
245
9
108
245
9
11246
232
838
East Malartic
Underground
50
0
0
0
0
0
0
18974
202
1235
Goldex
Underground
100
12360
186
739
18267
177
1038
30627
180
1777
26871
151
1300
Akasaba West
Open Pit
100
0
0
2184
070
49
2184
070
49
0
0
Lapa
Underground
100
159
362
18
576
407
75
734
397
94
587
716
135
Zulapa
Open Pit
100
0
0
0
0
0
0
391
314
39
Meadowbank
Open Pit
100
199
100
6
2386
229
175
2585
219
182
68
217
5
Amaruq
Open Pit
100
0
0
7118
315
720
7118
315
720
978
430
135
Amaruq
Underground
100
0
0
1661
564
301
1661
564
301
7704
650
1609
Amaruq Total
0
0
8779
362
1021
8779
362
1021
8682
625
1744
Meadowbank Complex Total
199
100
6
11165
333
1197
11364
329
1203
8751
622
1749
Meliadine
Open Pit
100
0
0
10481
346
1166
10481
346
1166
909
456
133
Meliadine
Underground
100
0
0
14799
400
1901
14799
400
1901
12935
614
2553
Meliadine Total
0
0
25280
377
3068
25280
377
3068
13844
604
2686
Hammond Reef
Open Pit
50
82831
070
1862
21377
057
389
104208
067
2251
251
074
6
Upper Beaver
Underground
50
0
0
1818
345
202
1818
345
202
4344
507
708
AK Project
Underground
50
0
0
634
651
133
634
651
133
1187
532
203
Anoki-McBean
Underground
50
0
0
934
533
160
934
533
160
1263
470
191
Upper Canada
Open Pit
50
0
0
0
0
0
0
2443
197
155
Upper Canada
Underground
50
0
0
0
0
0
0
3606
622
721
Upper Canada Total
0
0
0
0
0
0
6049
450
876
Kittilauml
Open Pit
100
0
0
229
341
25
229
341
25
373
389
47
Kittilauml
Underground
100
1592
259
132
18909
312
1899
20501
308
2032
8992
420
1213
Kittilauml Total
1592
259
132
19138
313
1924
20730
309
2057
9364
418
1260
Kuotko
Open Pit
100
0
0
0
0
0
0
284
318
29
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
411
250
Barsele
Open Pit
55
0
0
2911
107
100
2911
107
100
1574
112
57
Barsele
Underground
55
0
0
544
218
38
544
218
38
8667
253
705
Barsele Total
0
0
3455
125
138
3455
125
138
10241
231
761
Pinos Altos
Open Pit
100
0
0
621
110
22
621
110
22
6165
061
120
Pinos Altos
Underground
100
0
0
15537
185
925
15537
185
925
5040
244
396
Pinos Altos Total
0
0
16158
182
947
16158
182
947
11205
143
516
Creston Mascota
Open Pit
100
0
0
2503
066
53
2503
066
53
591
029
6
La India
Open Pit
100
16252
032
168
11150
067
240
27402
046
409
7055
041
92
Tarachi
Open Pit
100
0
0
22665
040
294
22665
040
294
6476
033
68
El Barquentildeo Gold
Open Pit
100
0
0
7980
127
327
7980
127
327
8199
121
318
Totals
115429
081
3014
194115
207
12940
309544
160
15954
164319
287
15170
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
0
0
7789
2020
5058
7789
2020
5058
5285
1213
2060
Kylmaumlkangas
Underground
100
0
0
0
0
0
0
1896
3111
1896
Pinos Altos
Open Pit
100
0
0
621
2007
401
621
2007
401
6165
2085
4133
Pinos Altos
Underground
100
0
0
15537
4528
22621
15537
4528
22621
5040
3767
6104
Pinos Altos Total
0
0
16158
4432
23022
16158
4432
23022
11205
2842
10237
Creston Mascota
Open Pit
100
0
0
2503
680
547
2503
680
547
591
597
113
La India
Open Pit
100
16252
180
942
11150
464
1663
27402
296
2605
7055
283
642
Tarachi
Open Pit
100
0
0
22665
000
0
22665
000
0
6476
000
0
El Barquentildeo Silver
Open Pit
100
0
0
0
0
0
0
9160
10730
31599
El Barquentildeo Gold
Open Pit
100
0
0
7980
496
1272
7980
496
1272
8199
1844
4860
Totals
16252
180
942
68245
1439
31563
84497
1196
32505
49866
3207
51408
COPPER
Mining Method
Ownership
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
000 Tonnes
Tonnes Cu
LaRonde
Underground
100
0
0
7789
027
20997
7789
027
20997
5285
023
11993
Akasaba West
Open Pit
100
0
0
2184
041
9004
2184
041
9004
0
0
Upper Beaver
Underground
50
0
0
1818
014
2567
1818
014
2567
4344
020
8642
El Barquentildeo Gold
Open Pit
100
0
0
7980
019
14908
7980
019
14908
8199
019
15802
Totals
0
0
19771
024
47476
19771
024
47476
17828
020
36437
ZINC
Mining Method
Ownership
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
000 Tonnes
Tonnes Zn
LaRonde
Underground
100
0
0
7789
076
59228
7789
076
59228
5285
040
21026
Totals
0
0
7789
076
59228
7789
076
59228
5285
040
21026
AGNICO EAGLE MINES LIMITED DETAILED MINERAL RESERVES AND RESOURCES DATA
As of December 31 2017
MINERAL RESERVES
OPERATIONS
PROVEN
PROBABLE
PROVEN amp PROBABLE
GOLD
Mining Method
Ownership
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
000 Tonnes
gt
000 Oz Au
LaRonde
Underground
100
5746
494
912
9533
566
1735
15279
539
2647
LaRonde Zone 5
Underground
100
3758
202
244
2477
197
157
6236
200
401
Canadian Malartic
Open Pit
50
24990
095
760
65509
115
2429
90499
110
3189
Goldex
Underground
100
181
161
9
18006
157
907
18186
157
917
Akasaba West
Open Pit
100
0
0
5194
087
145
5194
087
145
Lapa
Underground
100
127
375
15
0
0
127
375
15
Meadowbank
Open Pit
100
1820
136
79
2888
286
265
4708
228
345
Amaruq
Open Pit
100
0
0
20063
367
2366
20063
367
2366
Meadowbank Complex Total
1820
136
79
22951
357
2631
24771
340
2710
Meliadine
Open Pit
100
48
717
11
3693
519
617
3741
522
628
Meliadine
Underground
100
0
0
12317
770
3050
12317
770
3050
Meliadine Total
48
717
11
16010
712
3666
16058
712
3677
Upper Beaver
Underground
50
0
0
3996
543
698
3996
543
698
Kittilauml
Underground
100
971
426
133
25894
475
3957
26865
474
4090
Pinos Altos
Open Pit
100
74
106
3
1159
095
35
1233
096
38
Pinos Altos
Underground
100
4229
258
351
10973
251
885
15202
253
1235
Pinos Altos Total
4304
255
353
12132
236
920
16435
241
1273
Creston Mascota
Open Pit
100
21
090
1
2368
147
112
2389
147
113
La India
Open Pit
100
266
049
4
30394
069
674
30660
069
679
Totals
42232
186
2523
214464
262
18031
256696
249
20554
SILVER
Mining Method
Ownership
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
000 Tonnes
gt
000 Oz Ag
LaRonde
Underground
100
5746
1679
3102
9533
1878
5755
15279
1803
8857
Pinos Altos
Open Pit
100
74
6345
152
1159
2341
872
1233
2583
1024
Pinos Altos
Underground
100
4229
6838
9297
10973
6716
23693
15202
6750
32990
Pinos Altos Total
subtotal
4304
6829
9449
12132
6298
24565
16435
6437
34015
Creston Mascota
Open Pit
100
21
956
6
2368
3036
2311
2389
3018
2318
La India
Open Pit
100
266
340
29
30394
214
2094
30660
215
2123
Totals
10336
3787
12587
54427
1984
34725
64763
2272
47312
COPPER
Mining Method
Ownership
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
000 Tonnes
tonnes Cu
LaRonde
Underground
100
5746
022
12874
9533
023
22252
15279
023
35126
Akasaba West
Open Pit
100
0
0
5194
049
25535
5194
049
25535
Upper Beaver
Underground
50
0
0
3996
025
9990
3996
025
9990
Totals
5746
022
12874
18724
031
57776
24470
029
70651
ZINC
Mining Method
Ownership
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
000 Tonnes
tonnes Zn
LaRonde
Underground
100
5746
041
23405
9533
117
111079
15279
088
134484
Totals
5746
041
23405
9533
117
111079
15279
088
134484
TD Securities Mining Conference
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Mineral Resources
This presentation uses the terms ldquomeasured mineral resourcesrdquo and ldquoindicated mineral resourcesrdquo Investors are advised that while those terms are recognized and required byCanadian regulations the SEC does not recognize them Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever beconverted into mineral reserves
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This presentation also uses the term ldquoinferred mineral resourcesrdquo Investors are advised that while this term is recognized and required by Canadian regulations the SEC does notrecognize it ldquoInferred mineral resourcesrdquo have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility It cannot beassumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category Under Canadian rules estimates of inferred mineral resources may not formthe basis of feasibility or pre-feasibility studies except in rare cases Investors are cautioned not to assume that any part or all of an inferred mineral resource exists or iseconomically or legally mineable
Scientific and Technical Data
Cautionary Note To US Investors - The SEC permits US mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economicallyand legally extract or produce Agnico Eagle reports mineral reserve and mineral resource estimates in accordance with the Canadian Institute of Mining Metallurgy and PetroleumBest Practice Guidelines for Exploration and Best Practice Guidelines for Estimation of Mineral Resources and Mineral Reserves in accordance with the Canadian securities regulatoryauthorities (the CSA) National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) These standards are similar to those used by the SECrsquos Industry GuideNo 7 as interpreted by Staff at the SEC (Guide 7) However the definitions in NI 43-101 differ in certain respects from those under Guide 7 Accordingly mineral reserveinformation contained herein may not be comparable to similar information disclosed by US companies Under the requirements of the SEC mineralization may not be classified as areserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made Afinal or bankable feasibility study is required to meet the requirements to designate mineral reserves under Industry Guide 7 Agnico Eagle uses certain terms in this presentationsuch as measured indicated inferred and resources that the SEC guidelines strictly prohibit US registered companies from including in their filings with the SEC
Assumptions used for the December 31 2017 mineral reserves estimate at all mines and advanced projects reported by the Company
Metal prices Exchange ratesGold (US$oz) Silver (US$oz) Copper (US$lb) Zinc (US$lb) C$ per US$100 Mexican peso per
US$100 US$ per euro100
Long-life operations and projects
$1150 $1600 $250 $100
C$120 MXP1600 US$115
Short-life operations ndash Lapa Meadowbank mine Santos Nino pit and Creston Mascota satellite operation at Pinos Altos
C$125 MXP1700 Not applicable
Upper Canada Upper Beaver Canadian Malartic mine $1200 Not applicable $275 Not applicable C$125 Not applicable Not applicable
The Upper Beaver project has a C$125tonne net smelter return (NSR)The Canadian Malartic mine uses a cut-off grade between 035 gt and 037 gt gold (depending on the deposit)
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of proven mineral reservesrdquo probable mineral reservesrdquo measuredmineral resourcesrdquo indicated mineral resourcesrdquo and inferred mineral resourcesrdquo Mineral resources that are not mineral reserves do not have demonstrated economic viability
Notes to Investors Regarding The Use of Mineral Resources
40
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
41
Trading SymbolAEM on TSX amp NYSE
Investor Relations416-947-1212infoagnicoeaglecom
agnicoeaglecom
Slide Number 1
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December 31 2017
December 31 2017
Slide Number 40
Slide Number 41
Slide Number 42
TD Securities Mining Conference
A mineral reserve is the economically mineable part of a measured andor indicated mineral resource It includes diluting materials and allowances for losses which may occur whenthe material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors Such studies demonstratethat at the time of reporting extraction could reasonably be justified
Modifying factors are considerations used to convert mineral resources to mineral reserves These include but are not restricted to mining processing metallurgical infrastructureeconomic marketing legal environmental social and governmental factors
A proven mineral reserve is the economically mineable part of a measured mineral resource A proven mineral reserve implies a high degree of confidence in the modifying factors Aprobable mineral reserve is the economically mineable part of an indicated and in some circumstances a measured mineral resource The confidence in the modifying factorsapplying to a probable mineral reserve is lower than that applying to a proven mineral reserve
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earths crust in such form grade or quality and quantity that there are reasonableprospects for eventual economic extraction The location quantity grade or quality continuity and other geological characteristics of a mineral resource are known estimated orinterpreted from specific geological evidence and knowledge including sampling
A measured mineral resource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with confidencesufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit Geological evidence is derived fromdetailed and reliable exploration sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation An indicated mineralresource is that part of a mineral resource for which quantity grade or quality densities shape and physical characteristics are estimated with sufficient confidence to allow theapplication of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit Geological evidence is derived from adequatelydetailed and reliable exploration sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation An inferred mineralresource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling Geological evidence issufficient to imply but not verify geological and grade or quality continuity
Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments ofapplicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate at the time of reporting thatextraction is reasonably justified (economically mineable) The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution toproceed with or finance the development of the project The confidence level of the study will be higher than that of a Pre-Feasibility Study
The effective date for all of the Companys mineral resource and mineral reserve estimates in this presentation is December 31 2017 Additional information about each of the mineralprojects that is required by NI 43-101 sections 32 and 33 and paragraphs 34 (a) (c) and (d) can be found in the Technical Reports filed by Agnico Eagle which may be found atwwwsedarcom Other important operating information can be found in the Companys AIF and Form 40-F
The scientific and technical information relating to Agnico Eaglersquos mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approvedby Daniel Doucet Eng Senior Corporate Director Reserve Development and relating to mineral reserves and mineral resources at the Canadian Malartic mine contained herein hasbeen approved by Donald Gervais PGeo Director of Technical Services at Canadian Malartic Corporation Each of them is a Qualified Person for the purposes of NI 43-101
Notes to Investors Regarding The Use of Mineral Resources
