Agnico-Eagle Mines Limited reported its fourth quarter and full year 2011 results in February 2012. Earnings for both the quarter and full year were impacted by non-cash writedowns of the Goldex and Meadowbank mines. Revenues reached record levels in 2011 of $1.82 billion due to higher gold prices, however earnings were negative due to the writedowns. Production guidance is provided for 2012-2014, with payable gold production expected to increase each year from 875,000-950,000 ounces in 2012 to over 1 million ounces in 2014 through contributions from all mines. Capital expenditures are also forecast to remain below average EBITDA levels, allowing for expected ongoing free cash flow generation

1. Agnico-Eagle Mines Limited
Fourth Quarter and Full Year 2011 Results
February 2012

2. Forward Looking Statements
The information in this document has been prepared as at February 15, 2012. 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”, “will”, “planned”, and similar expressions are intended to identify forward-looking
statements or information.
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 future
internal rates of return, 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; 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; community protests; risks associated with foreign operations; 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 the Company's Annual Report on Form 20-F for the year ended
December 31, 2010, 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. Marc Legault, a Qualified Person and the Company’s Vice-President, Project Development, reviewed the
technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February
15, 2012 press release on the Company’s website. That press release also lists the Qualified Persons for each project.
2

3. Notes To Investors
Note 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 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 included in the Company's Annual Information Form and Annual Report on Form 20-F, for the year ended
December 31, 2010, as well as the Company's other filings with the Canadian Securities Administrators and the SEC
Note Regarding Production Guidance
The gold production guidance is based on the Company’s mineral reserves but includes contingencies, assumes metal prices and
foreign exchange rates that are different from those used in the reserve estimates. These factors and others mean that the gold
production guidance presented in this disclosure does not reconcile exactly with the production models used to support these mineral
reserves.
LaRonde Meadowbank Kittila Lapa Pinos Altos Meliadine
3

4. Record Revenues and Cash Flows in 2011
Earnings impacted by Goldex & Meadowbank writedowns
All amounts are in US$, Q4 Q4 Full Year Full Year
unless otherwise indicated 2011 2010 2011 2010
Revenues (millions) $455.5 $439.0 $1,821.8 $1,422.5
Earnings (millions) ($601.4) $88.0 ($568.9) $332.1
Earnings per share (basic) ($3.53) $0.53 ($3.36) $2.05
Cash provided by operating
$132.0 $90.6 $663.5 $483.5
activities (millions)
Payable Production
Gold (ounces) 227,792 256,471 985,460 987,609
Silver (ounces in thousands) 1,311 1,207 5,080 4,812
Zinc (tonnes) 12,591 14,939 54,894 62,544
Copper (tonnes) 1,002 935 3,216 4,224
Total cash costs ($/oz) $671 $462 $580 $451
4

5. Financial Position
All amounts are in US$, Dec. 31
unless otherwise indicated 2011
Cash and cash equivalents
$221
(millions)
Long term debt
$920
(millions)
Available credit facilities
$880
($US millions)
Common shares outstanding
170.3
(Weighted average, millions)
Common shares, fully diluted
170.3
(Weighted average, millions)
5

6. Operating Results
2012 Focus Remains on Optimization
Total 2011 Total Gross Mine Profit (Total $946M)
2011 Cash Payable Total Gross
Operating Costs Production Mine Profit Laronde
Results ($/oz) (Gold oz) ($, 000’s) 20%
Goldex
17%
LaRonde $77 124,173 $188,662
Meadowbank
16%
Kittila $739 143,560 $115,135
Lapa
10%
Lapa $650 107,068 $98,937 Pinos Altos
25% Kittila
12%
Pinos Altos1 $299 204,380 $232,715
Meadowbank $1,000 270,801 $149,549
Goldex 2 $401 135,478 $160,723
Total $580 985,460 $945,721
1. Pinos Altos figures include Creston Mascota 2. Goldex operations suspended Oct. 19, 2011 6

7. 2012 through 2014 Forecasts
2012 Total 2013 2014
Production Cash Gold Minesite Production Production
Forecast Cost Grade Recovery Cost per Forecast Forecast
(Gold koz) ($/oz) (g/t) (%) tonne (Gold koz) (Gold koz)
LaRonde 150 – 165 570 2.3 91 C$90 220 280
Kittila 150 – 160 650 5.5 84 €71 155 170
Lapa 95 – 105 750 6.4 81 C$124 100 105
Pinos Altos1 200 – 210 415 1.9 82 $44 210 190
Meadowbank 280 – 310 1,040 3.2 92 C$97 305 310
Total 875 – 950 720 990 1,055
2012 Byproduct Ag Production Zn Production Cu Production
Forecast 000’s oz (tonnes) (tonnes)
LaRonde 2,100 33,000 4,800
Pinos Altos1 2,000 - -
Meadowbank 50 - -
Total 4,150 33,000 4,800
1. Pinos Altos figures include Creston Mascota 2. 2012 assumptions include Ag $30/oz, Cu $7,000/tonne, Zn $1,800/tonne, C$/US$ 1.00, US$/Euro 1.35 7

8. Expected To Generate Net Free Cash Flow
Capital Expenditures (USD $000's)
$1,200,000
Approximate Average EBITDA*
$1,000,000
$800,000
$600,000
Illustrative Ongoing Re-Investment
$400,000
$200,000
$0
2007A 2008A 2009A 2010A 2011A 2012E 2013 2014
Actual Estimate
* Approximate average EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) estimate for illustrative purposes using $1700/oz gold, $32/oz silver, $2000/t zinc, C$/US$ 1.00, 1.35USD/€ 8

9. Production Growth Continues
Payable Gold Production Estimates
ounces
1,200,000
1,055koz
990koz
1,000,000 875-950koz
800,000
600,000
400,000
200,000
0
2008 2009 2010 2011 2012E 2013E 2014E
Actual Estimate
Production growth not yet in forecast: Kittila expansion(s), La India, Pinos Altos satellite zones, Meliadine
9

10. Focus Remains On Production Per Share Growth
Gold Production (Oz per 1,000 Shares)
7
6
5
4
3
2
1
0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E 2013E 2014E
Actual Estimate
*Estimate figures assume current amount of issued and outstanding common shares
10

11. Long Track Record of Increasing Reserves
Decrease in 2011 due to Goldex and Meadowbank
reclassifications
• Increased reserves at projects with strong exploration upside - Kittila and Meliadine
• Current proven and probable gold reserves of 18.6 million ounces. Deposits also
contain 8.7 million ounces of indicated gold resources and 10.3 million ounces of
inferred resource*
Gold reserves* (millions of ounces)
25
21
20
20 18 18 19
17
15
12
10
10
8 8
5 4
3
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E
* See attached reserve and resource tables 11

12. Focus Remains on Reserve Per Share Growth
Proven and Probable Reserves per 1,000 Shares
140
120
100
80
60
40
20
0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012E
Actual Estimate
*Estimate figures assume current amount of issued and outstanding common shares
12

13. Four Cornerstones
AEM produced nearly $1B of gross mine profit in 2011
Production, reserves, free cash flow expected to grow from current mines
LaRonde Kittila Mexico Meliadine
13

14. LaRonde - Production & Cash Flow Expected to
Increase in 2012
• Gold production expected to increase each P&P Gold reserves (million oz) 4.7
year through 2017 due to higher expected
Average gold reserve grade (g/t) 4.4
grade
Indicated resource (million oz) 0.4
• Byproduct grades expected to decline
significantly starting in 2012 Inferred resource (million oz) 1.3
Estimated LOM (years) 12
• Exploration Focus
2012 exploration budget
$1M
• Additional potential at depth, to the East (LaRonde & regional)
and to the West
• Expand and convert resource on Bousquet
14

15. Kittila - Optimization Initiatives Expected To Deliver
Cost Improvement, Higher Cash Flows
• Higher grade in 2012 expected to result in 8%
P&P Gold reserves (million oz) 5.2
higher gold production at lower costs
Average reserve grade (g/t) 4.7
• Anticipated mine life to 2044, not including
resources Indicated resource (million oz) 1.0
Inferred resource (million oz) 1.2
• Initial 25% expansion study expected in 2012
Estimated LOM (years) 32
• Good exploration results at Rimpi suggest
potential for larger expansion 2012 exploration budget $16M
• Exploration focus continues to be at depth and
to the north
15

16. Mexico - Highest Cash Flow Generator
• 2012 production at Creston Mascota expected P&P Gold reserves (m oz) 3.3
to increase due to full-year contribution
Average gold reserve grade (g/t) 2.3
• Underground expansion underway. Expected
Indicated resource (m oz) 0.8
to offset lower grades in outer years
Inferred resource (m oz) 0.9
• Anticipated mine life to 2029
Est. LOM (years) 18
• La India may add to production profile in 2014
2012 exploration budget $15M
• Exploration potential at Tarachi and satellite
zones
16

17. Meliadine – Quickly Growing Gold Reserve And Resource
Permitting Underway
• Examining production scenarios from open
P&P Gold reserves (million oz) 2.9
pits and underground
• Updated feasibility study expected in 2013 Average reserve grade (g/t) 7.2
• Drilling has expanded gold contained in
reserves and resources by approximately 40% Indicated resource (million oz) 1.7
in 1.5 years
• Potential to accelerate underground Inferred resource (million oz) 2.4
development to test deposit at depth
2012 exploration budget $30M
17

18. Other Operations
18

19. Goldex - Action Plan
Focused on Monitoring, Investigation and
Remediation
• Mine operations suspended October 2011
• Grouting program reoriented to protect surface area infrastructure
• Increased rock and soil monitoring
• Evaluate possibility of recovering gold resources
• Reserves have been reclassified to resources
19

20. Meadowbank – New Optimized Mine Plan
Partial writedown of $645 million after tax
• Mill consistently exceeding design throughput
• New plan results in similar net asset value
• New mine plan expected to be lower risk due to:
• 36% fewer tonnes moved over life of mine
• More conservative estimates for dilution
P&P Gold reserves (m oz) 2.2
Average reserve grade (g/t) 2.8
Indicated resource (m oz) 1.3
Inferred resource (m oz) 0.5
Est. LOM (years) 6
2012 exploration budget $7M
20

21. Lapa - Steady State with Good Tonnage and Cost
Control
• 2012 production and costs expected to P&P Gold reserves (m oz) 0.5
be similar to 2011
Average reserve grade (g/t) 6.5
• Anticipated life of mine extended through 2015
Indicated resource (m oz) 0.3
• Exploration Focus
Inferred resource (m oz) 0.1
• Extension of underground exploration drift to
provide access to drill targets to extend mine life Est. LOM (years) 4
2012 exploration budget $3M
21

22. Exploration Upside
22

23. Meliadine Project - Local Geology Map
Mineralization identified over 80 kilometer trend
Indicated resources – 33 koz Au
Inferred resources – 197 koz Au
Proven & Probable reserves – 2,781 koz Au
Indicated resources – 649 koz Au
Inferred resources – 1,329 koz Au
Indicated resources – 343 koz Au
Inferred resources – 411 koz Au
Inferred resources – 133koz Au
Meliadine (Total)
Proven & Probable reserves – 2,877 koz Au
Indicated resources – 1,658 koz Au Proven & Probable reserves – 97 koz Au
Indicated resources – 254 koz Au
Inferred resources – 2,438 koz Au Inferred resources – 179 koz Au
23

24. Meliadine – Tiriganiaq Composite Longitudinal Section
M11-1251 M11-1211 M11-1173
M11-1201
23.3 g/t Au / 3.3 m 11.6 g/t Au / 3.6 m 16.8 g/t Au / 5.5 m
21.9 g/t Au / 6.6 m
M11-1119
14.5 g/t Au / 2.9 m
M11-1349
M11-1092 22.6 g/t Au / 5.8 m
7.4 g/t Au / 11.2 m
M11-1171
M11-1108A M11-1236 6.2 g/t Au / 5.1 m
6.2 g/t Au / 9.6 m 9.4 g/t Au / 3.2 m
M11-1161
13.4 g/t Au / 6.4 m
35.5 g/t Au / 3.0 m
2012 Exploration Focus
24

25. Kittila – Composite Longitudinal Section
• 2011 Exploration expanded reserves and resources in Roura and Rimpi trends
• Further focus on exploration at depth and to the North in 2012
14.94 g/t Au/3.5m
6.03 g/t Au/11.8m
8.46 g/t Au / 4.5 m
7.67g/t Au/17.9m
2012 Focus
Area
8.27g/t Au/3.5m
5.34 g/t Au/14.9m 6.98g/t Au/10.1m 6.00g/t Au / 14.7 m
4.68 g/t Au/12.4m
4.22g/t Au /8.5m 6.58 g/t Au / 7.5 m
25

26. Creston Mascota – New Reserves Lead to Larger Open Pit
New Pit Design
Creston
Mascota
Previous Pit
Design
Bravo
26

27. Moving Forward
• Changes have been made at executive and mine management levels
• Changes have been made in budgeting, forecasting and reporting processes
• Historically, AEM’s trading multiple has rarely been this low
3.5x
3.0x
2.5x
Average
2.0x
P/NAV
1.72x
P/NAV
1.5x
1.0x
0.5x
-
Nov-02 Nov-03 Nov-04 Nov-05 Nov-06 Nov-07 Nov-08 Nov-09 Nov-10 Nov-11
AEM
Notes:
1) Source: TD Securities Research
2) Pricing data up to Feb 17, 2012 27

28. Appendix
28

29. Operating Metrics
LaRonde - Ore milled ('000 tonnes)
LaRonde LaRonde - Minesite costs per tonne (C$)
8,000tpd $120/t
7,500tpd
$100/t
7,000tpd
$80/t
6,500tpd
6,000tpd $60/t
5,500tpd
$40/t
5,000tpd
$20/t
4,500tpd
4,000tpd $0/t
Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11
Lapa
2,000tpd $160/t
1,800tpd $140/t
1,600tpd
$120/t
1,400tpd
1,200tpd $100/t
1,000tpd $80/t
800tpd $60/t
600tpd
$40/t
400tpd
200tpd $20/t
0tpd $0/t
Q2 09
Q3 09
Q4 09
Q1 10
Q2 10
Q3 10
Q4 10
Q1 11
Q2 11
Q3 11
Q4 11
Lapa - Ore milled ('000 tonnes) Lapa - Minesite costs per tonne (C$)
29

30. Operating Metrics
Kittila - Ore milled('000 tonnes)
Kittila Kittila - Minesite costs per tonne (EUR)
3,500tpd €100/t
€90/t
3,000tpd
€80/t
2,500tpd €70/t
2,000tpd €60/t
€50/t
1,500tpd €40/t
1,000tpd €30/t
€20/t
500tpd
€10/t
0tpd €0/t
Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11
Pinos Altos Meadowbank
6,000tpd $60/t 10,000tpd $180/t
9,000tpd $160/t
5,000tpd $50/t
8,000tpd $140/t
4,000tpd $40/t 7,000tpd
$120/t
6,000tpd
$100/t
3,000tpd $30/t 5,000tpd
$80/t
4,000tpd
2,000tpd $20/t $60/t
3,000tpd
2,000tpd $40/t
1,000tpd $10/t
1,000tpd $20/t
0tpd $0/t 0tpd $0/t
Q1 10
Q2 10
Q3 10
Q4 10
Q1 11
Q2 11
Q3 11
Q4 11
Q4 09
Q1 10
Q2 10
Q3 10
Q4 10
Q1 11
Q2 11
Q3 11
Q4 11
Pinos Altos - Ore milled ('000 tonnes) Meadowbank - Ore milled ('000 tonnes)
Pinos Altos - Minesite costs per tonne (USD$) Meadowbank - Minesite costs per tonne (C$)
30

31. Gold and Silver Reserves and Resources
December 31, 2011
Tonnes Gold Gold Tonnes Silver Silver
Gold (000’s) (g/t) (ounces) Silver (000’s) (g/t) (ounces)
(000’s) (000’s)
Proven 11,029 2.80 994 Proven 7,318 45.35 10,670
Probable 146,057 3.78 17,757 Probable 72,693 45.06 105,319
Total Total
157,086 3.71 18,750 80,011 45.09 115,989
Reserves Reserves
Measured & Measured &
168,336 1.78 9,633 27,801 27.24 24,344
Indicated Indicated
Inferred 131,216 2.30 9,712 Inferred 34,513 19.00 21,082

32. Copper, Zinc and Lead Reserves and Resources
December 31, 2011
Tonnes Copper Copper Tonnes Zinc Zinc Tonnes Lead Lead
Copper Zinc Lead
(000’s) (%) (tonnes) (000’s) (%) (tonnes) (000’s) (%) (tonnes)
Proven 5,331 0.28 15,025 Proven 5,331 2.04 108,626 Proven 5,331 0.23 12,391
Probable 27,901 0.27 76,160 Probable 27,901 0.77 215,522 Probable 27,901 0.05 13,441
Total Total Total
33,232 0.27 91,184 33,232 0.98 324,149 33,232 0.08 25,832
Reserves Reserves Reserves
Indicated 7,225 0.12 8,629 Indicated 7,225 1.49 107,338 Indicated 7,225 0.15 11,127
Inferred 11,400 0.26 29,664 Inferred 11,400 0.44 49,745 Inferred 11,400 0.05 5,138
*Calculated grades 32

33. Notes to Investors Regarding the Use of Resources
Cautionary Note to Investors Concerning Estimates of Measured and Indicated Resources
This document uses the terms "measured resources" and "indicated resources". We advise investors that while those terms are recognized and required by
Canadian 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 be converted into reserves.
Cautionary Note to Investors Concerning Estimates of Inferred Resources
This document also uses the term "inferred resources". We advise investors that while this term is recognized and required by Canadian regulations, the SEC does
not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It
cannot be assumed 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 form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of
an inferred resource exists, or is economically or legally mineable.
Scientific and Technical Data
Agnico-Eagle Mines Limited is reporting mineral resource and reserve estimates in accordance with the CIM guidelines for the estimation, classification and
reporting of resources and reserves.
Cautionary Note To U.S. Investors - The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. Agnico-Eagle uses certain terms in this press release, such as “measured”, “indicated”, and “inferred”,
and “resources” that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider
closely the disclosure in our Form 20-F, which may be obtained from us, or from the SEC’s website at: http://sec.gov/edgar.shtml. A “final” or “bankable” feasibility
study is required to meet the requirements to designate reserves under Industry Guide 7.
Estimates for all properties were calculated using historic three-year average metals prices and foreign exchange rates in accordance with the SEC Industry Guide
7. Industry Guide 7 requires the use of prices that reflect current economic conditions at the time of reserve determination, which the Staff of the SEC has
interpreted to mean historic three-year average prices. The assumptions used for the mineral reserves and resources estimates reported by the Company on
February 16, 2011 were based on three-year average prices for the period ending December 31, 2011 of $1,255 per ounce gold, $23.00 per ounce silver, $0.91 per
pound zinc, $3.25 per pound copper, $0.95 per pound lead and C$/US$, US$/Euro and MXP/US$ exchange rates of 1.05, 1.37 and 12.86, respectively.
The Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) requires mining companies to disclose reserves and resources using the
subcategories of “proven” reserves, “probable” reserves, “measured” resources, “indicated” resources and “inferred” resources. Mineral resources that are not
mineral reserves do not have demonstrated economic viability.
33

34. Notes to Investors Regarding the Use of Resources
A mineral reserve is the economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. This study
must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that
economic extraction can be justified. A mineral reserve includes diluting materials and allows for losses that may occur when the material is mined. A proven
mineral reserve is the economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. A probable mineral
reserve is the economically mineable part of an indicated, and in some circumstances, a measured mineral resource demonstrated by at least a preliminary
feasibility study.
A mineral resource is a concentration or occurrence of natural, solid, inorganic material, or natural solid fossilized organic material including base and precious
metals in or on the Earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location,
quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and
knowledge. A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so
well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support
production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing
information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to
confirm both geological and grade continuity. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape
and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to
support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information
gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and
grade continuity to be reasonably assumed. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality can be estimated
on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on
limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Mineral
resources which are not mineral reserves do not have demonstrated economic viability.
Investors are cautioned not to assume that part or all of an inferred 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 of realistically assumed mining, processing, metallurgical, economic, marketing, legal, environmental, social and governmental considerations
together with any other relevant operational factors and detailed financial analysis, that are necessary to demonstrate at the time of reporting that extraction 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 to
proceed 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 Company’s mineral resource and reserve estimates in this document is December 31, 2011. Additional information about each of
the mineral projects that is required by NI 43-101, sections 3.2 and 3.3 and paragraphs 3.4 (a), (c) and (d) can be found in the Technical Reports referred to above,
which may be found at www.sedar.com. Other important operating information can be found in the Company’s Form 20-F and its news release dated February 15,
2012.
The contents of this document have been prepared under the supervision of, and reviewed by, Marc Legault P.Eng., Vice-President Project Development and a
“Qualified Person” for the purposes of NI 43-101.
34

35. A solid financial position, low-cost structure, well-funded growth projects in regions
of low political risk, and a focused, consistent strategy put Agnico-Eagle in a strong
position to continue creating exceptional per share value.
Sean Boyd Executive and Registered Office:
President and 145 King Street East, Suite 400
Chief Executive Officer Toronto, Ontario, Canada, M5C 2Y7
Ammar Al-Joundi Tel: 416-947-1212
SVP Finance and Toll-Free: 888-822-6714
Chief Financial Officer Fax: 416-367-4681
David Smith
SVP, Strategic Planning & Investor
Relations
Trading Symbol:
AEM on TSX & NYSE
Investor Relations:
416-947-1212
info@agnico-eagle.com
agnico-eagle.com