Agnico-Eagle Mines Limited      Technical Update – August 18th, 2011
Forward Looking StatementsThe information in this document has been prepared as at August 18, 2011. Certain statements con...
Note To Investors            Regarding The Use Of Non-gaap Financial Measures This document presents estimates of future "...
Highlights■   LaRonde Deep – development project on time and    budget■   Goldex - Record tonnage despite soil subsidence ...
Challenges■ Mining conditions at LaRonde and Lapa –  narrow stopes■ Subsidence at Goldex with water inflow■ Equipment avai...
LaRonde
LaRonde YTD Highlights■ Gold production – 64,000 oz■ Cost per tonne - $85 vs. budget of $82■ Cash costs $95/oz■ Mill throu...
LaRonde Extension – Project Update■ Load out construction almost completed on Level 282■ Crusher construction – on schedul...
LaRonde Extension – Production■ Production Stopes                              194   ■ Pyramid from 269 - Q2 2012   ■ Pyra...
LaRonde Extension - Crusher   General   Arrangement                                     Transfer Conveyor (July 2011) Tel...
Goldex
Goldex Highlights■ Grade in line with forecast – over 13 million tonnes  of broken ore in stope■ Record milled tonnage in ...
Goldex     Q3 QTD Performance Unaffected By Subsidence IssuesAug 15, 2011                             Q3 QTD           H1/...
Overburden subsidence                                                                            5m of overburden         ...
Vertical Cross Section                                   Level 38                         Stope                         ou...
Drilling – Level 38                                    Infiltration Zone – Eastern Mining Block                           ...
Remediation of overburden subsidence■ Shear zones have been characterized and defined■ Reduce water inflow into the mine  ...
Goldex - D Zone Growing at Depth                               Actual Exploration2011 Exploration Budget                  ...
Lapa
Lapa Update■ Steady state performance exceeding tonnes hoisted and tonnes milled■ Steady state performance for development...
Meadowbank
Meadowbank Update        Turn around in progress but more work to do■ Secondary crushing plant running                    ...
Meadowbank    Q3 QTD Throughput Significantly Above H1 LevelsAug 15, 2011                                Q3 QTD    H1/11 Y...
Higher mill tonnage after secondary crusher start up                                      Meadowbank Mill_Monthly Tonnes  ...
Tm/day                            10 000                                     20 000                                       ...
Blast Movement Control – Improving Dilution  ■ Staggered pattern has been successfully implemented in South Portage  ■ Bla...
Blast Movement Control – Improving Dilution  ■ Dilution in flatter zones averaged 30%      to 40% earlier this year – now ...
Blast movement monitoring                                           Significant reduction in                              ...
Cost control initiatives  ■ Improve equipment availability –      utilization                ■ Improved facilities, fillin...
Mine Manager’s Comment – Aug 15th, 2011“Wow nice week team!!Tonnes moved average of 87 851 t/dMore consistent direction of...
Kittila
Kittila Highlights – H1 2011■ Unplanned shutdowns related to scaling  problems in the Autoclave – mill availability  77%■ ...
Kittila     Q3 QTD Throughput Significantly Above H1 LevelsAug 15, 2011                                 Q3 QTD    H1/11 YT...
Kittila Open Pit■ Ore production resumed in the Suuri pit after 2  month stop   ■ Eastern wall rock stability issues addre...
Kittila Underground■ UG development advance very good at 111% of  budget – new lateral development record at 610 m  in May...
Kittila – Growing Reserves & Resources                               2011 Exploration Budget                   Actual Expl...
Pinos Altos
Pinos Altos H1 Highlights■ YTD production 99,000oz at, $28/t – significantly below budget■ Mascota continued ramp up bette...
UG Ore Production■ 3,000 TPD ore production was reached in June■ Total cost per tonne was $34.96 vs. $32.47 budget■ Q2 Met...
Pinos Altos Open Pit■ Total Open pit ore production was 783,948 tonnes at 1.065 g/t Au vs. 671,531  at 1.192 g/t. planned■...
Mascota Operation■ Ramp up production■ Heap Leach Au-Oz Production 9,449 Oz vs. 6,462 Oz budget. (payable gold)         Or...
Exploration Upside
Meliadine Exploration Upside - 80km Strike Length                                              2011 Exploration Budget    ...
Meliadine Exploration - Tiriganiaq             8.62 g/t Au / 19.3 m        Tiriganiaq Longitudinal Section                ...
Tiriganiaq Schematic Cross Section                                    Bulk Sample                                        A...
Wesmeg – The most recent discovery at Meliadine                                                         Wesmeg Longitudina...
Appendix
Gold and Silver Reserves and Resources                     December 31, 2010                             Tonnes      Gold ...
Copper, Zinc and Lead Reserves and Resources                     December 31, 2010                     Tonnes Copper Coppe...
A solid financial position, low-cost structure,    well-funded growth projects in regions of low political risk, and a foc...
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2011-08-18 AEM Technical Update

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2011-08-18 AEM Technical Update

  1. 1. Agnico-Eagle Mines Limited Technical Update – August 18th, 2011
  2. 2. Forward Looking StatementsThe information in this document has been prepared as at August 18, 2011. 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 forwardlooking information under the provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”,“expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements orinformation.Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions;estimates of future reserves, resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of futureinternal rates of return, mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures andother cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certainore 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 ofreserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events withrespect to the Companys minesites and statements and information regarding the sufficiency of the Companys cash resources. Suchstatements and information reflect the Companys views as at the date of this document and are subject to certain risks, uncertaintiesand assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknowncould cause the actual results to be materially different from those expressed or implied by such forward looking statements andinformation. 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 othercosts; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks;community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of theCompanys stock price; and risks associated with the Companys byproduct metal derivative strategies. For a more detaileddiscussion 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 the Companys Annual Report on Form 20-F for the year ended December 31,2010, as well as the Companys other filings with the Canadian Securities Administrators and the U.S. Securities and ExchangeCommission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements andinformation. Marc Legault, a Qualified Person and the Company’s Vice-President, Project Development, reviewed the technicalinformation disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February 16, 2011press release on the Company’s website. That press release also lists the Qualified Persons for each project. 2
  3. 3. Note To Investors Regarding The Use Of Non-gaap Financial Measures This 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 Companys 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 Companys historical results of operations is set forth in the notes to the financial statements included in the Companys Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2010, as well as the Companys other filings with the Canadian Securities Administrators and the SEC.LaRonde Goldex Kittila Lapa Pinos Altos Meadowbank 3
  4. 4. Highlights■ LaRonde Deep – development project on time and budget■ Goldex - Record tonnage despite soil subsidence issues – significant exploration results at depth■ Lapa – Lower grade offset by increased tonnage■ Meadowbank – plant exceeding tonnage expectations, focused on minimizing dilution■ Kittila – Production resumed at Suuri Open Pit and excellent exploration results at depth on Rimpi Zone – Solid mill performance, costs improving■ Pinos Altos – Record quarterly production of 51,067 ounces at a cash cost of $299 per ounce.■ Meliadine – excellent exploration results – underground bulk sample started; 10 drills on site 4
  5. 5. Challenges■ Mining conditions at LaRonde and Lapa – narrow stopes■ Subsidence at Goldex with water inflow■ Equipment availability and high costs at Meadowbank■ High costs at Kittila 5
  6. 6. LaRonde
  7. 7. LaRonde YTD Highlights■ Gold production – 64,000 oz■ Cost per tonne - $85 vs. budget of $82■ Cash costs $95/oz■ Mill throughput 6,543 tpd 7
  8. 8. LaRonde Extension – Project Update■ Load out construction almost completed on Level 282■ Crusher construction – on schedule for Q4■ First production scheduled for November■ On schedule – on budget■ LOM at 6,000 tpd – evaluating possibility of 7,000 tpd 8
  9. 9. LaRonde Extension – Production■ Production Stopes 194 ■ Pyramid from 269 - Q2 2012 ■ Pyramid from 293 – Q3 2013■ Production Rate Ramp-Up below 215 the 245 level ■ 2011 => 1 200 tpd (Q-4 2011) ■ 2012 => 2 000 tpd ■ 2013 => 4 200 tpd 245 ■ 2014 => 6 000 tpd 257 269 278 282 293 311 9
  10. 10. LaRonde Extension - Crusher General Arrangement Transfer Conveyor (July 2011) TelSmith Crusher 48 x 52 Capacity >650 t/hr Excavation completed in April 2011 Commissioning  Q4 2011 Crusher (July 2011) 10
  11. 11. Goldex
  12. 12. Goldex Highlights■ Grade in line with forecast – over 13 million tonnes of broken ore in stope■ Record milled tonnage in May-June following addition of 6th Manitou pump, recrushing of surface stock pile – will be maintained for remainder of year; YTD 8,200 tpd■ Operating costs under budget, additional capital to manage water inflow and soil subsidence■ Surface overburden subsidence – remediation program underway■ Exploration results at depth could significantly increase mine life ■ Resource being calculated■ YTD gold production – 80,500oz; cost per tonne - C$22, on budget; cash costs $408/oz 12
  13. 13. Goldex Q3 QTD Performance Unaffected By Subsidence IssuesAug 15, 2011 Q3 QTD H1/11 YTDDaily throughput (tpd) 8,485 8,204Grade (g/t) 1.85 1.82Mill recoveries (%) 94.6% 92.8% 13
  14. 14. Overburden subsidence 5m of overburden settling over center of GEZ Cement injection program ongoing, expected to be completed by year end 14
  15. 15. Vertical Cross Section Level 38 Stope outline Shear zone Diorite Komatiite 15
  16. 16. Drilling – Level 38 Infiltration Zone – Eastern Mining Block Diamond drilling and proposed grouting program Infiltration ZoneDiamonddrill holes 16
  17. 17. Remediation of overburden subsidence■ Shear zones have been characterized and defined■ Reduce water inflow into the mine ■ Grouting from surface and underground■ Stabilize the water table ■ Inject mine inflow back into the water table ■ Water table defined■ Increase underground pumping capacity to secure the mine ■ Additional capacity installed in excess of inflow■ Initial results encouraging ■ Reduction in inflow noted with increased surface injection ■ Water table rising in eastern section ■ Grouting to continue westward until end of year ■ $6.0 million of total $19 million has been spent 17
  18. 18. Goldex - D Zone Growing at Depth Actual Exploration2011 Exploration Budget (January-June 2011) $8.4 million $3.1 million 70,200 metres DDH 26,482 metres DDH Gold Au TonnesD zone Grade (M oz) (000s) (g/t)Inferred 0.75 14,361 1.62resources2011 Exploration Program$8.4 million budgetedD Zone  50 to 100 m thick 3.02 g/t Au / 117.0 m  Traced 350 m wide and 500+ m depth (open in all directions) 1.70 g/t Au / 69.0 m  Initial inferred resource 0.75 Moz 1.84 g/t Au / 112.5 m 1.50 g/t Au / 120.0 m  Exploration ramp initiated incl. 2.40 g/t Au / 61.5 m 1.48 g/t Au / 76.5 m  Resource conversion drilling underway 2.47 g/t Au / 240.0 m  Resource expansion drilling successful at 1.70 g/t Au / 192.0 m depth 2.17 g/t Au / 192.0 m  Grade and thickness higher at depth  Initial mining study by end of 2011  Potential to add to reserves in 2013 18
  19. 19. Lapa
  20. 20. Lapa Update■ Steady state performance exceeding tonnes hoisted and tonnes milled■ Steady state performance for development – targets exceeded despite difficult mining conditions■ Cost per tonne below budget - C$110■ Unit development cost below budget■ Overall excellent performance: YTD gold production 55,500oz 20
  21. 21. Meadowbank
  22. 22. Meadowbank Update Turn around in progress but more work to do■ Secondary crushing plant running August 15th Mill Sheet Day Month according to plan CRUSHING Ore Tonnage (dmt) 8756 128866 Utilisation (%) 55.56■ Significant improvements in mining FEED Tonnage 10737 136319 performance although dilution still an Head Grade - Au (g/t) 2.58 2.69 issue GRINDING Availability (%) 100.00 90.42 GRAVITY■ Declining costs per tonne over the past Recovery (%) 14.27% 8.99% LEACH / CIP Gold Leach / C.I.P. Recovery (%) 79.86% 84.96% quarter – should see continued improvement SUMMARY Gravity Gold Recovery (oz) 127 1061 CIP Gold Recovery (oz.) 710 10025 Mill Gold Recovery (%) 94.13% 93.95%■ Operating staff positions are being filled Gold Production (oz) 837 11086 22
  23. 23. Meadowbank Q3 QTD Throughput Significantly Above H1 LevelsAug 15, 2011 Q3 QTD H1/11 YTDDaily throughput (tpd) 9,143 7,160Grade (g/t) 2.80 3.11Mill recoveries (%) 94.0% 93.7% 23
  24. 24. Higher mill tonnage after secondary crusher start up Meadowbank Mill_Monthly Tonnes Before Secondary Crusher After Secondary Crusher 300 000 250 000 200 000Mill Tonnes (t/month) 150 000 •Design capacity attained in August •More stable operation downstream 100 000 50 000 Realized 24
  25. 25. Tm/day 10 000 20 000 30 000 40 000 50 000 60 000 70 000 80 000 90 000 100 000 110 000 120 000 0 1-Jan-10 1-Feb-10 1-Mar-10 1-Apr-10 1-May-10 1-Jun-10 Mine Production Realized 1-Jul-10 2010 1-Aug-10 1-Sep-10 1-Oct-10 1-Nov-10 Realized 1-Dec-10 1-Jan-11 1-Feb-11 1-Mar-11 1-Apr-11 Tonnes moved per day Forecast 1-May-11 Meadowbank Mine Performances 1-Jun-11 2011 1-Jul-11 1-Aug-11 Budget 1-Sep-11 1-Oct-11 1-Nov-11 1-Dec-1125
  26. 26. Blast Movement Control – Improving Dilution ■ Staggered pattern has been successfully implemented in South Portage ■ Blast design is now optimized so that the movement of the muck is becoming more predictable ■ Improvements have been made to the QA/QC process, resulting in more consistent drilling and loading operations ■ Floor quality & fragmentation has improved while keeping movement under control ■ Groundwater in South Portage is still locally hindering drilling and blasting operations; a variance was obtained from the Mine Inspector to allow immediate loading of the holes as they are drilled, a practice that reduces the impact of water in the holesAgnico-Eagle Mines Limited 26
  27. 27. Blast Movement Control – Improving Dilution ■ Dilution in flatter zones averaged 30% to 40% earlier this year – now approximately 20% ■ Objective is 12% - 15% - reserve model contains an average of 12% ■ Currently mining narrower zones in North Pit North Portage Portage Pit ■ Expansion into South Portage and South Pit Goose pits will provide more flexibility and higher grades Goose Island PitAgnico-Eagle Mines Limited 27
  28. 28. Blast movement monitoring Significant reduction in blast displacementAgnico-Eagle Mines Limited 28
  29. 29. Cost control initiatives ■ Improve equipment availability – utilization ■ Improved facilities, filling vacant positions ■ Prepare for coming winter – complete modifications ■ Higher, consistent mill throughput ■ Reduce rehandling of ore North Pit ■ Train local employees – reduce logistics Portage Pit costs ■ Reduce reliance on contract labour South Pit ■ Reduce fuel consumption, stockpile lower cost fuel, reduce energy consumption ■ Optimize mill (i.e. mill liners, reagents)Agnico-Eagle Mines Limited 29
  30. 30. Mine Manager’s Comment – Aug 15th, 2011“Wow nice week team!!Tonnes moved average of 87 851 t/dMore consistent direction of the blasts at an average of 5.2 meters displacement(down from 13 metres)Mill tonnage average of 427 t/h (10,250 tpd)Coffer dam construction ahead of scheduleWe are going in the right direction! Keep it up and stay on the top of the waveThanks, Merci, MatnaDominique” 30
  31. 31. Kittila
  32. 32. Kittila Highlights – H1 2011■ Unplanned shutdowns related to scaling problems in the Autoclave – mill availability 77%■ Total mill throughput of 233,121 dmt or 90% of design capacity despite mill availability■ Good underground development and waste stripping performance■ Underground ore production on plan Gold Brick no 400■ High unit costs per tonne and per ounce■ Contractor reduction in progress■ Excellent exploration results on Rimpi 32 32
  33. 33. Kittila Q3 QTD Throughput Significantly Above H1 LevelsAug 15, 2011 Q3 QTD H1/11 YTDDaily throughput (tpd) 3,187 2,734Grade (g/t) 4.60 5.25Mill recoveries (%) 84.7% 84.5% 33
  34. 34. Kittila Open Pit■ Ore production resumed in the Suuri pit after 2 month stop ■ Eastern wall rock stability issues addressed and Suuri ore production re-started in early June ■ Ore production from Roura good, cost adjustment for stripping Suuri pit ■ Ore stockpile > 300,000 tonnes Roura pit 34 34
  35. 35. Kittila Underground■ UG development advance very good at 111% of budget – new lateral development record at 610 m in May■ Good UG ore production -- 102% of budget ■ 350 m Service Level complete – UG warehouse, cafeteria and shops functional ■ Cost reduction opportunities have been identified and action plans instigated ■ Contractor reduction ■ Control overtime ■ Renegotiate reagent, explosive contracts ■ Reduce company housing 35 35
  36. 36. Kittila – Growing Reserves & Resources 2011 Exploration Budget Actual Exploration (January-June 2011) $15.6 million $7.0 million 56,200 metres DDH 28,415 metres DDH 9.32 g/t Au / 11.2 m 9.93 g/t Au / 6.2 m 5.98 g/t Au / 7.8 m 9.50 g/t Au / 6.0 m 7.10 g/t Au / 21.0 m2011 Exploration Program  Production expansion feasibility  Exploration success Rimpi and Suuri$15.6 million budgeted expected in Q4, 2011 - Roura Deep Suuri – Roura Deep exploration ramp initiated  Suuri – Roura Deep exploration shaft  Potential to enhance economics of Resource expansion and resource to reserve project under evaluation Kittila expansion and shaft projects conversion drilling underway 36
  37. 37. Pinos Altos
  38. 38. Pinos Altos H1 Highlights■ YTD production 99,000oz at, $28/t – significantly below budget■ Mascota continued ramp up better than expected Mexico Division Au Ounces Production (Oz) 60,000 50,000 40,000 30,000 20,000 10,000 - Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Actual 38 38
  39. 39. UG Ore Production■ 3,000 TPD ore production was reached in June■ Total cost per tonne was $34.96 vs. $32.47 budget■ Q2 Meters of lateral development 1,476 m vs.1,457 m budget & unit cost of US$2,210 vs. US$2,587 budget Ore Production & Cost per tonne performance 100 100 90 90 80 80 70 70 60 60 50 50 40 40 30 30 20 20 10 10 - 0 USD/tonne Oct Nov Dec Jan Feb Mar Apr May June tonnes 2010 2010 2010 2011 2011 2011 2011 2011 2011 Tonnes USD/tonne 39 39
  40. 40. Pinos Altos Open Pit■ Total Open pit ore production was 783,948 tonnes at 1.065 g/t Au vs. 671,531 at 1.192 g/t. planned■ Total Open pit unit cost was $1.33 per tonne vs. $1.29 per tonne planned 40 40
  41. 41. Mascota Operation■ Ramp up production■ Heap Leach Au-Oz Production 9,449 Oz vs. 6,462 Oz budget. (payable gold) Ore Placed 2011 (000 tonnes) Au Ounces Production 2011 (Oz) 180 4,500 160 4,000 140 3,500 120 3,000 100 2,500 80 2,000 60 1,500 40 1,000 20 500 - - Jan Feb Mar Apr May Jun Jan Feb Mar Apr May Jun tonnes placed Actual 41 41
  42. 42. Exploration Upside
  43. 43. Meliadine Exploration Upside - 80km Strike Length 2011 Exploration Budget Actual Exploration (January-June 2011) $64.8 million $11.7 million 90,000 metres DDH 44,173 metres DDH Au Tonnes Au Tiriganiaq (Moz) (000) (g/t) Probable Reserves 2.60 9,467 8.54 Indicated Resources 0.81 5,407 4.66 Inferred Resources 1.91 7,883 7.55 Au Tonnes Au Wesmeg (Moz) (000) (g/t) Inferred Resources 0.14 1,000 4.45 Tiriganiaq Au Tonnes Au F zone Wolf Wesmeg (Moz) (000) (g/t) Indicated Resources 0.33 1,895 5.39 Pump F Zone Inferred Resources 0.18 1,010 5.62 Au Tonnes Au Wolf (Moz) (000) (g/t) Au Tonnes Au Discovery Indicated Resources 0.02 183 3.79 Discovery (Moz) (000) (g/t) Inferred Resources 0.16 947 5.24 Indicated Resources 0.32 1,323 7.41 Inferred Resources 0.14 498 8.97 Au Tonnes Au Pump (Moz) (000) (g/t) Inferred Resources 0.10 495 6.292011 Exploration budget $64.8 million for drilling,feasibility and camp Resource to reserve conversion and expansion underway at Tiriganiaq /Wesmeg  Aggressive regional exploration initiated (plans to build new Permitting and preparations for access road exploration base at Discovery) construction  6,000 -10,000 tpd feasibility expected 2013 Wesmeg exploration success should increase 10 km resources 43
  44. 44. Meliadine Exploration - Tiriganiaq 8.62 g/t Au / 19.3 m Tiriganiaq Longitudinal Section 10.9 g/t Au / 7.0 m 7.98 g/t Au / 39.3 m 15.14 g/t Au / 5.8 m 16.64 g/t Au / 7.4 m 5.33 g/t Au / 4.2 m Largest deposit at Meliadine Tiriganiaq Au Tonnes Au  Ramp project to test for deeper (Moz) (000) (g/t) extensions Resource expansion and resource to Probable Reserves 2.60 9,467 8.54 reserve conversion drilling underway Indicated Resources 0.81 5,407 4.66  Potential to add reserves and resources Underground bulk sampling initiated Inferred Resources 1.91 7,883 7.55 at Tiriganiaq in 2011 44
  45. 45. Tiriganiaq Schematic Cross Section Bulk Sample Area2011 Exploration Program atTiriganiaq Underground bulk sampling and grade confirmation drilling underway to refine feasibility resource model Resource to reserve conversion drilling Resource expansion drilling Exploration ramp proposed to follow up and extend Tiriganiaq and Wesmeg (both wide open at depth) 45
  46. 46. Wesmeg – The most recent discovery at Meliadine Wesmeg Longitudinal Section 4.78 g/t Au / 13.5 m 7.02 g/t Au / 10.6 m 7.02 g/t Au / 10.6 m 8.17 g/t Au / 5.4 m 6.87 g/t Au / 4.7 m 5.72 g/t Au / 9.4 m  Initial resource in Dec’ 2010 (Wesmeg North only) Au Tonnes Gold Grade  Exploration success extends Wesmeg North open pit potential more than 2.1Wesmeg zone (M oz) (000s) (g/t) kilometres; Underground potential also developingInferred 0.14 1,000 4.45  New Wesmeg South trend currently traced for 600 metres and extending at depthresources below 160 metres  Potential to significantly expand Wesmeg resource in 2011 and enhance feasibility 46
  47. 47. Appendix
  48. 48. Gold and Silver Reserves and Resources December 31, 2010 Tonnes Gold Gold Tonnes Silver Silver (000’s) (g/t) (ounces) (000’s) (g/t)* (ounces) (000’s) (000’s) Proven 24,869 2.29 1,832 Proven 7,702 54.75 13,558 Probable 160,944 3.76 19,467 Probable 71,190 48.09 110,061 Total Total 185,813 3.57 21,299 78,892 48.74 123,620 Reserves Reserves Indicated 95,135 2.10 6,437 Indicated 32,554 21.90 22,918 Inferred 118,111 2.59 9,839 Inferred 37,183 19.98 23,883*Calculated grades 48
  49. 49. Copper, Zinc and Lead Reserves and Resources December 31, 2010 Tonnes Copper Copper Tonnes Zinc Zinc Tonnes Lead Lead (000’s) (%) (tonnes) (000’s) (%) (tonnes) (000’s) (%) (tonnes) Proven 4,838 0.26 12,433 Proven 4,838 2.78 134,651 Proven 4,838 0.32 15,572 Probable 29,892 0.28 82,360 Probable 29,892 0.90 269,581 Probable 29,892 0.07 19,463 Total Total Total 34,730 0.27 94,793 34,730 1.16 404,232 34,730 0.10 35,035 Reserves Reserves Reserves Indicated 6,933 0.12 8,462 Indicated 6,933 1.36 94,457 Indicated 6,933 0.13 8,942 Inferred 11,526 0.27 30,820 Inferred 11,526 0.48 55,556 Inferred 11,526 0.05 5,463*Calculated grades 49
  50. 50. A solid financial position, low-cost structure, well-funded growth projects in regions of low political risk, and a focused, consistent strategyput Agnico-Eagle in a strong position to continue creating exceptional per share value. Sean Boyd Executive and Registered Office: Vice-Chairman and 145 King Street East, Suite 400 Chief Executive Officer Toronto, Ontario, Canada, M5C 2Y7 Ebe Scherkus Tel: 416-947-1212 President and Toll-Free: 888-822-6714 Chief Operating Officer Fax: 416-367-4681 Ammar Al-Joundi SVP Finance and Chief Financial Officer David Smith SVP Investor Relations Trading Symbol: AEM on TSX & NYSE Investor Relations: 416-947-1212 info@agnico-eagle.com agnico-eagle.com

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