Agnico-Eagle Mines Limited 22
Forward Looking Statements
The information in this document has been prepared as at January 15, 2007. Certain statements contained in this document constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, “expect”, “estimate,” “forecast,” “planned” and similar expressions are intended to identify forward-looking statements or information.
Such statements and information include without limitation: the Company’s forward looking production guidance, including estimated ore grades, metal production, minesite cost per tonne, total cash costs per ounce and projected exploration and capital expenditures; estimates of future reserves, resources, mineral production and sales; estimates of mine life; estimates of future mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration and; the anticipated timing of events with respect to the Company's minesites and; statements and information regarding the sufficiency of the Company's cash resources. Such statements and information reflect the Company's views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; risks associated with foreign operations; risks related to title issues at the Pinos Altos project; governmental and environmental regulation; the volatility of the Company's stock price; and risks associated with the Company's byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see Company's Annual Information Form and Annual Report on Form 20-F for the year ended December 31, 2006, as well as the Company's other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information.
Agnico-Eagle Mines Limited 3
Notes To Investors
Note to Investors Regarding the Use of Non-GAAP Financial MeasuresThis document presents estimates of future "total cash cost per ounce" and "minesite cost per tonne" that are not recognized measures under United States generally accepted accounting principles ("US GAAP"). This data may not be comparable to data presented by other gold producers. These future estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Company expects to incur to mine gold at the applicable projects and do not include production costs attributable to accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Company's total cash cost per ounce and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAP for the Company's historical results of operations is set forth in the notes to the financial statements and in the Company's Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2006, as well as the Company's other filings with the Canadian Securities Administrators and the SEC.
Agnico-Eagle Mines Limited 44
Growth StrategyBuilding Value Through Production and Reserve Growth
Produce more goldTargeting 1.3 million oz annually 2010 to 2017
Grow gold reserves in mining friendly regions
16.3 million ounces, targeting 18-20 million ounces within 13 months
Acquire small, think bigCreate value through strategic acquisitions
Be a low cost leaderTotal cash cost estimated to average $230/oz from 2010 to 2017
Maintain a solid financial positionApproximately $420 million cash, no debt, strong cash flow, undrawn $300 million credit facility
Agnico-Eagle Mines Limited 55
Financial PositionStrongest Financial Position in Company’s History
$300Available bank lines
142146
Common shares (millions)
BasicFully diluted
$0Long term debt
approx. $420Cash and cash equivalents
Dec 312007
All amounts are in US$ millions, unless otherwise indicated
Agnico-Eagle Mines Limited 6
0
2
4
6
8
10
12
14
16
18
20
1998 1999 2000 2001 2002 2003 2004 2005 2006 Current 2008 Est.
3.0 3.3 3.3 4.0
10.4
7.97.9
1.3
Total Agnico-Eagle Gold Reserves (Millions of Ounces)
12.5
Target:18 - 20
16.3
LaRonde Goldex Lapa Kittila MeadowbankPinos Altos
Gold ReservesAEM’s gold reserves are significantly larger than its intermediate peers
Targeting additional reserve conversion at Pinos Altos, Goldex, Kittila and Meadowbank
Uniquely positioned with potential for several 5 million oz gold deposits
Strong record of growing gold reserves per share
Shares outstanding up only 2.6 times since 1998. Gold reserves up 12.5 times
Agnico-Eagle Mines Limited 8
FinlandKittila
U.S.A.Nevada
MexicoPinos Altos
CanadaToronto, HQ
CanadaLaRonde, Goldex & Lapa
CanadaMeadowbank
Global GrowthFive New Gold Mines Under Construction
AEM’s growth projects 100% owned, with low total acquisition costs
Located in mining friendly regions of low political risk
Each project region haslong-term mining camp potential
Largest exploration budget in Agnico-Eagle’s history – greater than $65million
Agnico-Eagle Mines Limited 9
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
2008E 2009E 2010E 2011E 2012E-2017E Average0
150
300
Industry Leading1 Gold Production Growth
Payable Gold Production(ounces)
LaRonde Goldex Lapa Kittila MeadowbankPinos Altos Total Cash Costs (weighted average)
Total Cash Costs($/oz)*
1 For an intermediate or senior gold producer* Total cash costs for all years were calculated using the following trailing 3-year average metals prices and exchange rates:
$10.55/oz Ag; $2,596/t Zn; $5,628/t Cu; C$/US$ of 1.15; US$/Euro of 1.29
Agnico-Eagle Mines Limited 10
0
100,000
200,000
300,000
400,000
500,000
600,000
2008E 2009E 2010E 2011E 2012E-2017E
Capital Expenditure Estimates($000's)
LaRonde Goldex Lapa Kittila MeadowbankPinos Altos
Agnico-Eagle Mines Limited 11
LaRonde – Canada Long Life Gold Reserves
Proven and probable gold reserves of 35.6 million tonnes at 4.5 g/t, or 5.2 million oz
Life of mine: average production of 340,000 oz/yr at total cash costs of approximately $150/oz
Shaft sinking underway for Extension
$40 million invested to date on Extension, $185 million more to completion in early 2012
Exploration ongoing west of orebody. Eastern focus on El Coco and Bruce.
Agnico-Eagle Mines Limited 12
LaRonde – Canada Longitudinal Section
Probable Reserve
Indicated & Inferred Resource
exploration upside
exploration upside
300 m
exploration upside
Agnico-Eagle Mines Limited 16
Goldex – CanadaMine On Budget and Ahead of Schedule for April 2008 Start-up
Proven and probable gold reserves of 1.7 million ounces from 22.9 million tonnes grading 2.3 g/t
Estimated average annual production of 175,000 oz/yr with total cash costs expected at $230/oz
Shaft sinking complete
Processing plant expected to be complete Q1, 2008
$160 million invested to date, $23 million more to completion in April 2008
Probable Reserve
Indicated& Inferred Resource
exploration upside
100 m
Agnico-Eagle Mines Limited 20
Lapa – CanadaNew Gold Mine 11 km East of LaRonde
Probable gold reserves of 1.2 million oz; 3.9 million tonnes at 9.1 g/t
Anticipating average production of 125,000 oz/yr at expected total cash costs of $300/oz
Shaft sinking complete and level development underway
$45 million invested to date, $120 million more to completion in mid-2009
Contact South
Contact Central
Contact North
Probable Reserve
Indicated& Inferred Resource
200 m
500 m
1,000 m
1,360 m1,369 m
exploration upside
Agnico-Eagle Mines Limited 2424
Kittila Mine – FinlandDeposit Continues to Expand
Probable reserves of 2.6 million oz; 16.0 million tonnes at 5.1 g/t– open on strike and at depth
Average production expected at 150,000 oz/yr with approximate total cash costs of $300/oz
Exploration ongoing to convert large gold resource and extend zones
$100 million invested to date, $90 million more to completion in September 2008
Agnico-Eagle Mines Limited 26
Kittila Mine – FinlandLongitudinal Section
Probable Reserve
Indicated Resource
Ketola Etelä Suuri North Roura RimpiCentral Roura
exploration upside
exploration upside
exploration upside
exploration upside
1000 m
Agnico-Eagle Mines Limited 27
Kittila Mine – FinlandGold Zones - Section 6490N Looking North
100 m
-200 m
-100 m
0 m
- 400 m
- 300 m
58500 E
58700 E
Probable Reserve
Indicated Resource
Agnico-Eagle Mines Limited 31
Probable gold reserves of 2.2 million ounces, 65.7 million ounces silver from 20.0 million tonnes at 3.5 g/tgold and 102.3 g/t silver
Expected annual gold production of 190,000 ounces at total cash costs of $210/oz
Construction to begin Q1, 2008.
$14 million exploration program in progress. Drilling from underground decline to begin in Q1, 2008
$30 million invested to date, $200 million more to completion in mid-2009
31
Pinos Altos – MexicoGrowing Gold and Silver Reserve
Agnico-Eagle Mines Limited 33
Pinos Altos – MexicoLongitudinal Section
Probable Reserve
Indicated & Inferred Resource
Cerro Colorado
Santo Nino San Eligio Oberon de Weber El Apache
exploration upside
exploration upside
exploration upside exploration
upside
exploration upside
300 m
Agnico-Eagle Mines Limited 34
Pinos Altos – MexicoSanto Nino - Section S4600E Looking West
Pit Outline
North South
50 m
Ore Zone
BuenavistaIgnimbrite
Victoria Ignimbrite
Santo Nino Fault
Santo Nino Andesite
Agnico-Eagle Mines Limited 35
Pinos Altos – MexicoCreston Mascota – Section 5900N Looking North
EastWest
50 mOre grade gold mineralization
OpenOpen
Agnico-Eagle Mines Limited 3939
Meadowbank – CanadaStart Up Accelerated Six Months – Initial Production January 2010
Probable reserves of 3.5 million oz; 27.7 million tonnes at 3.9 g/t– open on strike and at depth
Years 1 to 4 production to expected average 435,000 oz with approximate total cash costs of $240/oz
Average LOM production expected at 360,000 oz/yr with approximate total cash costs of $300/oz
Exploration ongoing to convert large gold resource, extend zones and test new targets
$110 million invested to date, $280 million more to completion in January 2010
Agnico-Eagle Mines Limited 41
Meadowbank – Canada Longitudinal Section
Probable Reserve
Indicated Resource
NorthSouthOver 3.5 km strike length
Goose South Goose Island Portage Bay Island Portage Cannu
exploration upside
exploration upside exploration
upside
exploration upside
200 m
Agnico-Eagle Mines Limited 42
Meadowbank – Canada Portage Deposit Section
Approx. Pit Outline
Section 3P2–180N Looking North
0 50 Metres
ProbableReserveSediment
Ultramafic
Volcanic
Agnico-Eagle Mines Limited 46
Timeline of Upcoming News
First Quarter 2008
Exploration Update
February 20, 2008Q4, 2007 Earnings and Reserve/Resource update
Second Quarter 2008
May 2008Q1, 2008 Earnings and Annual General Meeting
46
Agnico-Eagle Mines Limited 4747
Investment HighlightsIndustry Leading Production and Reserve Growth Story1
Generating strong earnings and cash flows
Gold growth projects fully funded
Potential to increase gold production fivefold by 2010
Existing projects provide potentialto increase gold reserves to beyond 18 million to 20 million ounces
Potential for several 5 million ounce gold deposits
1 For an intermediate gold producer
Agnico-Eagle Mines Limited 48
Executive and Registered Office:145 King Street East, Suite 400Toronto, Ontario, Canada, M5C 2Y7
Tel: 416-947-1212Toll-Free: 888-822-6714 Fax: 416-367-4681
Email: [email protected]: www.agnico-eagle.com
Trading Symbols: AEM / TSX & NYSE
Sean BoydVice Chairman and Chief Executive Officer
Ebe ScherkusPresident and Chief Operating Officer
David GarofaloSr. Vice President, Finance and Chief Financial Officer
Investor Relations Contact:David Smith – VP, Investor Relations