Stock Symbols: AEM (NYSE and TSX) TORONTO, May 9
/PRNewswire-FirstCall/ -- Agnico-Eagle Mines Limited is pleased to
provide an update on its exploration activities. Encouraging
results have been received from several of the development
properties in Mexico, Finland and Canada, including results from
outside of the current gold reserve and resource envelopes. The
budgeted exploration expenditure in 2007 exceeds $40 million, the
highest level in the Company's history. Currently 23 drill rigs are
turning, targeting 175,000 metres of drilling for the year. It is
anticipated that drilling at the current projects will enable
Agnico-Eagle to reach its year-end 2008 target of 18 million to 20
million ounces of gold reserves, up from current gold reserves of
15.4 million ounces. More importantly, several of the recent
discoveries are outside of the currently contemplated mining areas.
Agnico-Eagle's gold reserves are all located in mining-friendly
regions with low political risk. With four new gold mines under
construction, and another new project nearing development,
Agnico-Eagle is aiming to increase its gold production fivefold
over the next three years. Recent exploration activity in Mexico
includes: - At Pinos Altos, drilling suggests continuity between
Santo Nino and Cerro Colorado zones as drill hole 170 returned 7.3
grams per tonne gold and 234.1 grams per tonne silver over a true
thickness of 10.8 metres. - Also at Pinos Altos, a potential new
zone was discovered at Creston Colorado as drill hole CM-07-12
intersected 3.8 grams per tonne gold over a core length of 65.4
metres possibly associated with a high grade feeder gold zone. Gold
and silver mineralization has been traced over an 800 metre strike
length and suggests Mascota and Creston Colorado form part of the
same shallowly dipping near surface gold zone. Recent exploration
activity in Finland includes: - At Kittila, mineralization is
extended 350 metres below the current reserve envelope as drill
hole SUBH07003 intersects 8.3 grams per tonne gold over a true
thickness of 15.1 metres. - Also at Kittila, a potential new gold
zone has been discovered along the Suurikuusikko Gold Trend at Paha
over 4 kilometres north of the Kittila Main zone. Recent
exploration activity in Canada includes: - An 8,300 metre drilling
program at Goldex is following up the previously reported 80 metre
2.9 gram per tonne intersection east and down plunge of the current
reserves. - A 15,000 metre drilling program is underway at
Meadowbank as three diamond drills convert resource to reserve and
test the extensions of the new Goose South zone. "We believe these
exploration results continue to support our thesis that our
existing projects will yield gold reserves beyond our stated target
range of 18 to 20 million ounces," said Sean Boyd, Vice-Chairman
and Chief Executive Officer. "This growth in quality gold reserves
combined with the expected strong growth in gold production over
the next several years should result in added value for our
shareholders," added Mr. Boyd. Mexico - Pinos Altos Gold and Silver
Reserves Expected to Continue to Grow At the 100% owned Pinos Altos
project in northern Mexico, encouraging results continue from the
current drilling program suggesting that further increases to the
reserves and resources are likely. Four drill rigs are currently
operational on the property: two drills are converting mineral
resource to reserve and expanding the resource at depth in the mine
project area, and two others are testing new gold showings
discovered to the northwest on this large 11,000 hectare-sized
property. Total drilling to date exceeds 14,750 metres out of a
targeted 61,000 metres expected in 2007. In the underground sector
at Santo Nino, the most interesting infill drilling results were
obtained in drill holes 146 and 147 that intersected several high
grade gold (up to 11.7 grams per tonne) and silver values (up to
413.6 grams per tonne) over significant thicknesses as they tested
the reserve and resource at depths between 400 metres and 600
metres below the surface. Drill hole 146 averaged 4.2 grams of gold
per tonne and 129.2 grams of silver per tonne over an impressive
39.0 metres true width. Drill hole 147 returned an average 6.2
grams of gold per tonne and 138.0 grams of silver per tonne over
42.0 metres true width. These latest results have not yet been
included in the gold reserves. Pinos Altos currently has probable
gold and silver reserves of 1.8 million ounces and 55.5 million
ounces, respectively (18.6 million tonnes containing 3.07 grams per
tonne gold and 92.77 grams per tonne silver). In the indicated
resource category there are a further 1.6 million tonnes grading
1.48 grams per tonne gold and 61.84 grams per tonne silver, or
78,000 ounces of gold and 3.3 million ounces of silver. There are
also inferred resources of 5.2 million tonnes grading 3.03 grams
per tonne gold and 80.54 grams per tonne silver (0.5 million ounces
of gold and 13.5 million ounces of silver). The Pinos Altos
feasibility study is currently under independent review and a Board
decision regarding production is expected in the middle of the
year. Gold and silver production at Pinos Altos could begin in the
first half of 2009. Perhaps the most significant result of the
first quarter of 2007 at Pinos Altos was from the deep resource
expansion drilling program at Santo Nino. This program was planned
to follow up on drill hole PA-05-81 from last fall (5.8 grams of
gold per tonne and 42.0 grams of silver per tonne over 2.5 metres
true width) that suggested that the Santo Nino zone and the high
grade Cerro Colorado zone might join at depth. Recently drill hole
170 returned a high grade value of 7.3 grams of gold per tonne and
234.1 grams per tonne silver over 10.2 metres true width. It is
interpreted that gold mineralization could extend from Santo Nino
to Cerro Colorado. This is significant because the gold resource at
Cerro Colorado has not yet been included in the feasibility study.
Further definition of the Cerro Colorado resource and its inclusion
in the mine plan would likely enhance the economics of the Pinos
Altos project. Additional deep resource expansion drilling is
planned in this area this year. Two drill rigs are currently
testing the area between Santo Nino and Cerro Colorado to delineate
the continuity along the trend and at depth. In the first quarter
of 2007, results from the infill drilling program in the Pinos
Altos mine project area continued to confirm, and in some cases,
exceed the expected gold and silver grades and thicknesses,
especially in the main Santo Nino zone. Some of the most
interesting results in the open pit sector at Santo Nino were
obtained in drill holes 139 and 149. Drill hole 139 returned 2.4
grams of gold per tonne and 112.0 grams of silver per tonne over
15.1 metres true width in the eastern edge of the open pit. Drill
hole 149, also testing the base of the eastern edge of the open pit
sector but at 200 metres in depth, returned an impressive 15.5
grams of gold per tonne and 411.0 grams of silver per tonne over
8.3 metres true width.
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Gold Silver True (g/t) (g/t) Drill Width From To Cut to Cut to Hole
Zone (metres) (metres) (metres) 41 g 1,500 g Comments
-------------------------------------------------------------------------
PA-06-139 Santo Nino 15.1 237.7 255.0 2.37 112.0 Open pit in-fill
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PA-06-146 Santo Nino 39.0 586.7 629.0 4.18 129.2 Under- ground
in-fill
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including 4.6 589.0 594.0 7.00 413.6
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including 14.3 607.4 623.0 8.20 144.8
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PA-06-147 Santo Nino 42.0 457.3 501.9 6.15 138.0 Under- ground
in-fill
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including 15.0 463.0 479.0 11.74 212.5
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including 12.2 488.9 501.9 5.91 176.5
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PA-06-149 Santo Nino 8.3 306.1 315.0 15.48 411.0 Open pit in-fill
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PA-07-170 Cerro 10.2 496.0 507.5 7.31 234.1 Resource Colorado
expansion
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http://www.agnico-eagle.com/files/PinosLongSection.pdf Development
on the underground ramp began in March and the underground drilling
program is expected to begin later this year. The main focus of the
underground exploration program will be resource to reserve
conversion of the Cerro Colorado zone and the area between it and
the Santo Nino zone. Over 1,350 metres of ramp are expected to be
completed in 2007 out of a total of 1,800 metres. During 2007,
23,500 metres of underground diamond drilling are also planned.
Potential New Discovery at Pinos Altos In the northwest quadrant of
the property, almost 7 kilometres from the main deposit at Pinos
Altos, the Mascota and Creston Colorado zones continue to provide
intriguing results providing more evidence of the potential to
expand precious metal reserves and resources at Pinos Altos. In the
fall of 2006, surface mapping, sampling and trenching identified
gold associated with at least two apparently flat lying zones of
quartz vein and stockwork mineralization near surface covering an
area several hundred metres in size each. The mineralization is
similar to Santo Nino (except in its orientation), with brecciated
quartz veins and associated quartz stockwork system and some
green-coloured quartz. Grab sample gold values as high as 33 grams
per tonne were discovered on Mascota, while a trench exposed
mineralization at Creston Colorado grading 4.5 grams per tonne
gold, and over a 45.4 metre length at surface.
http://www.agnico-eagle.com/files/PinosGeologyMap.pdf
http://www.agnico-eagle.com/files/CrestonColoradoMascotaPlanMap.pdf
A drilling program has been underway at Creston Colorado and
Mascota since December 2006 using a portable drill and over 3,100
metres have been completed so far with several exciting results. At
Creston Colorado, diamond drilling has systematically traced a near
surface zone of almost continuous gold mineralization that trends
roughly north south and dips very shallowly to the west. This zone
of quartz stockwork and quartz vein breccia mineralization
generally reaches a thickness of up to 25 metres and has been
traced for over 800 metres so far (open to the north) and for up to
200 metres down plunge. Gold values in the drilling so far average
up to 5.1 grams per tonne with locally narrow metre-thick high
grade intervals of up to 88.9 grams per tonne generally associated
with quartz vein breccia intervals. Recent drilling on Creston
Colorado has identified what appears to be a sub-vertical zone,
which may be a feeder zone, or a fold structure, including drill
hole CM-07-12 which intersected 3.8 grams per tonne gold over a
core length of 65.4 metres. Further drilling is ongoing to
determine the orientation and true thickness of the new zone.
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Gold Silver True (g/t) (g/t) Drill Width From To Cut to Cut to Hole
Zone (metres) (metres) (metres) 41 g 1,500 g
-------------------------------------------------------------------------
CM-06-01 Creston Colorado 9.2 0.0 11.0 2.43 57.8
-------------------------------------------------------------------------
CM-06-02 Creston Colorado 7.6 4.2 13.3 1.66 28.0
-------------------------------------------------------------------------
CM-06-03 Creston Colorado 11.7 17.3 28.8 11.18 26.1
-------------------------------------------------------------------------
CM-06-04 Creston Colorado 4.5 6.0 11.0 1.30 52.6
-------------------------------------------------------------------------
CM-06-05 Creston Colorado 25.5 11.5 38.2 1.22 19.3
-------------------------------------------------------------------------
CM-07-06 Creston Colorado 5.9 16.4 22.8 2.09 74.1
-------------------------------------------------------------------------
CM-07-07 Creston Colorado 1.5 14.9 16.5 4.83 111.8
-------------------------------------------------------------------------
CM-07-10B Creston Colorado 15.0 0.0 18.7 3.38 22.5
-------------------------------------------------------------------------
CM-07-11(1) Creston Colorado 37.6 15.6 54.9 2.33 15.0
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CM-07-12(1) Creston Colorado 55.0 38.2 103.5 3.81 35.7
-------------------------------------------------------------------------
CM-07-14 Creston Colorado 25.2 0.0 25.8 1.02 9.7
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CM-07-15A Creston Colorado 19.6 14.4 34.0 1.08 9.5
-------------------------------------------------------------------------
CM-07-21 Creston Colorado 6.0 21.5 28.5 2.54 15.1
-------------------------------------------------------------------------
CM-07-29(1) Creston Colorado 22.7 105.1 133.8 1.35 27.6
-------------------------------------------------------------------------
1. Note: The true widths for these drill holes are subject to
change. At Mascota, drilling has identified similar near surface
gold mineralization except that so far it is generally thinner
(ranging between 4 to 6 metres true thickness). The drilling
program is now concentrating on extending the zone to the South
(where it remains completely open). Most significantly, the results
of the current exploration program suggest that the Creston
Colorado and Mascota zones may form part of a larger more
widespread zone, occurring at a similar geologic interval, but
separated by sub-vertical fault zones that displace the same
mineralized horizon. These zones are not included in the current
reserve and resource estimate at Pinos Altos.
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Gold Silver True (g/t) (g/t) Drill Width From To Cut to Cut to Hole
Zone (metres) (metres) (metres) 41 g 1,500 g
-------------------------------------------------------------------------
CM-07-22 Mascota 6.3 9.1 16.8 1.17 7.3
-------------------------------------------------------------------------
CM-07-26A Mascota 2.4 2.0 4.5 5.30 112.4
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CM-07-28 Mascota 4.2 0.2 4.6 2.38 20.0
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A new five kilometre road is currently under construction to
provide better access to this sector. A second drill rig is planned
to be moved in as soon as the road is completed, estimated to be
within the next few weeks. With further success in this region, it
is likely that exploration expenditures beyond the currently
estimated amounts would be approved.
http://www.agnico-eagle.com/files/CrestonColoradoCrossSection.pdf
Finland - Possible Deep Extension of Main Zone at Kittila At the
100% owned Kittila mine project in northern Finland, six diamond
drills continue to turn. Three drill rigs on the Kittila mining
lease are dedicated to further definition of the current reserves
and resources and to extending resources at depth and along strike.
The remaining three drills are focused on exploration along the 15
kilometre long Suurikuusikko Trend. The current drilling results
suggest the following: - Mineralization on the Main zone has been
extended an additional 350 metres below previous diamond drilling
results and reserve resource estimates down to a depth of 1,000
metres. - Potential to extend the near surface Etela zone to depth
with recent drilling intersecting mineralization 250 metres below
previous drilling. - The drilling results confirm the depth
potential of the Suurikuusikko Belt and the Kittila mine project.
Most of the belt has not been tested below 200 metres depth. Two
drill holes were completed on the Main zone at depth. Both of these
drill holes were outside of the current resource/reserve envelope.
Drill hole SUBH05007 intersected the zone at a depth of 1,000
metres below surface approximately 243 metres below SUBH05025
intercepting a true thickness of 3.5 metres grading 4.5 grams of
gold per tonne. A second drill hole, SUBH07003, drilled 415 metres
to the north and at approximately the same depth, intercepted 15.1
metres true thickness grading 8.3 grams per ton. Within this
intercept there was a higher grade interval of 4.7 metres true
thickness grading 13.3 grams per tonne. This drill hole is located
approximately 357 metres below drill hole SUBH05030. Positive
results were also received on the down plunge extension of the
Etela zone. This zone is located 200 metres to the south of the
Main zone. Drill hole SUBH06106 returned a true thickness of 4.9
metres grading 5.5 grams per ton at a depth of 400 metres below
surface or approximately 250 metres from the closest drilling on
the Etela Zone. The Kittila deposit contains 2.6 million ounces of
probable gold reserves (16.0 million tonnes grading 5.1 grams per
tonne). In the indicated mineral resource category there is a
further 4.2 million tonnes grading 4.0 grams per tonne, or 0.5
million ounces. In the inferred mineral resource category there is
2.8 million tonnes grading 5.5 grams per tonne, or 0.5 million
ounces.
-------------------------------------------------------------------------
True Width From To Gold Drill Hole Zone (metres) (metres) (metres)
(g/t) Comments
-------------------------------------------------------------------------
SUBH05007 Main 3.5 1110.0 1115.0 4.3 Preliminary results
-------------------------------------------------------------------------
SUBH06106 Main 4.9 438.0 445.0 5.5 Preliminary results
-------------------------------------------------------------------------
SUBH07003 Main 15.1 1054.3 1075.9 8.3 Preliminary results
-------------------------------------------------------------------------
including 4.7 1054.3 1061.0 13.3
-------------------------------------------------------------------------
including 3.3 1063.1 1068.4 9.3
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http://www.agnico-eagle.com/files/KittilaLongSection.pdf Drilling
along the Suurikuusikko Trend Return Continues to Outline New Gold
Zones During the first quarter of 2007, almost 11,000 metres of
drilling were completed on targets along the 15 kilometre length
Suurikuusikko Trend, both to the south and to the north of the
Kittila mining lease. The focus of the drilling program is to test
the Hako zone, discovered in 2006, to follow up on geochemical
anomalies discovered previously along the Suurikuusikko Trend, and
further explore the Iso Kuotko deposit near the northern end of the
trend. In 2006, follow-up drilling of a geochemical anomaly in the
Hako area, located approximately 2 kilometres north of the Kittila
mining lease, intersected high-grade gold mineralization similar to
Kittila. Drill results in the quarter have returned encouraging
intercepts including 4.2 grams of gold per tonne over 2.9 metres
true width in drill hole HAK06010 and 170.0 grams per tonne over
0.3 metres in drill hole HAK06014. Although this high grade value
was over a narrow width, additional drilling is warranted to better
define the Hako gold structure. The most recent discovery of gold
mineralization at Paha, located 4 kilometres north of the Kittila
mining lease is also the result of follow-up work on recent
geochemical sampling and geophysics on the northern extension of
the Suurikuusikko Trend. Mineralization at Paha is also primarily
arsenopyrite, as at Kittila, but so far is generally narrow (less
than 1 metre in thickness). Exploration is ongoing and further
drilling is planned. Drilling on the Kuotko targets located about
10 kilometres north of the mine area also continue to return very
encouraging results. Mineralization at Kuotko differs from Kittila
and is hosted by quartz-carbonate veins with minor pyrrhotite and
visible gold cutting volcanic. Gold values so far have been erratic
and narrow (in the order of 1 to 2 metres); for example drill hole
ISO06019, testing the Tiira lens at Kuotko, returned 10.4 grams of
gold per tonne over a 1.8 metre core length. But the most recent
drilling on the Retu lens, in addition to cutting high grade in
drill hole ISO07001 (44.2 grams per tonne over 1.0 metre core
length), also intercepted 7.6 grams per tonne over 6.1 metre core
length in drill hole ISO07002. This result suggests that thicker
zones of higher grade mineralization can potentially occur at
Kuotko. Drilling continues on this regional program.
-------------------------------------------------------------------------
Core Length(x) From To Gold Drill Hole Zone (metres) (metres)
(metres) (g/t) Comments
-------------------------------------------------------------------------
ISO06016 KUOTKO/TIIRA 1.1 97.0 98.1 9.62
-------------------------------------------------------------------------
ISO06016 KUOTKO/TIIRA 1.0 205.0 206.0 5.70
-------------------------------------------------------------------------
ISO06017 KUOTKO/TIIRA 2.2 68.7 71.7 4.00 Core Loss 0.8 m
-------------------------------------------------------------------------
ISO06018 KUOTKO/TIIRA 1.0 115.2 116.2 7.74
-------------------------------------------------------------------------
ISO06019 KUOTKO/TIIRA 1.8 172.2 174.0 10.42
-------------------------------------------------------------------------
ISO07001 KUOTKO/RETU 1.0 142.0 143.0 44.20 Preliminary assays
-------------------------------------------------------------------------
ISO07002 KUOTKO/RETU 6.1 59.6 65.7 7.60 Preliminary assays
-------------------------------------------------------------------------
HAK06010 HAKO 2.2 72.0 74.2 6.25
-------------------------------------------------------------------------
HAK06014 HAKO 0.4 133.9 134.3 170.00
-------------------------------------------------------------------------
PAH07011 PAHA 1.0 225.7 226.7 7.63 Preliminary assays
-------------------------------------------------------------------------
PAH07014 PAHA 0.7 155.3 156.0 4.22 Preliminary assays
-------------------------------------------------------------------------
(x) Note: Although the results are preliminary, true width is
estimated to be 70% of corelength.
http://www.agnico-eagle.com/files/KittilaMineProjectSuuriTrend.pdf
Canada - Follow-up Drilling Program at Goldex Has Begun At the
Company's 100% owned Goldex mine project, 60 kilometres east of
LaRonde, an exploration program will follow-up on the encouraging
result in drill hole 73-366, where an 80 metre intersection grading
2.9 grams per tonne was returned. This drill hole was important as
it confirmed that the mineralization at Goldex continues to the
east, and down the known plunge. The exploration program consists
of approximately 8,300 metres of underground diamond drilling from
the eastern limit of the 73 level exploration drift. The drilling
will test the eastern extension of the zone on a regular pattern of
intercepts and potentially increase the mineral resource and
reserve at Goldex. Goldex has 1.7 million ounces of proven and
probable gold reserve (22.9 million tonnes grading 2.29 grams per
tonne). There is a further inferred resource of 8.6 million tonnes
grading 2.62 grams per tonne for 0.7 million ounces of contained
gold. http://www.agnico-eagle.com/files/GoldexLongSection.pdf
Anomalies West and East of LaRonde Orebody Being Drilled
Disseminated and semi-massive sulphides have been intersected below
the shaft at Bousquet 2 (less than 1 kilometre west of the LaRonde
orebody). Currently lateral development is underway to provide
drilling platforms from the Level 215 exploration drift which will
allow better access to drill the mineralization in this area.
Drilling is expected to begin later this summer. To the east of
LaRonde, a drill rig was moved to Level 86 where three sections
will be drilled to investigate a geophysical target approximately
1.5 kilometres east of the current LaRonde reserves.
http://www.agnico-eagle.com/files/LaRondeLongSection.pdf Lapa
Drilling Program Suggests Further Resource Conversion Likely Infill
drilling continues at the 100% owned Lapa mine project in
northwestern Quebec. In the first quarter, drilling has targeted
several of the lenses from a drilling platform at the level 89
shaft station. The recent results continue to demonstrate the
relatively narrow and high grade nature of the deposit with some
high grade results from multiple zones that exceed the current gold
reserve grade at Lapa. Some of the drill holes drilled have also
confirmed inferred resource mineralization on the western edge of
the deposit. For example, drill hole 12 intersected 7.9 grams of
gold per tonne over 2.9 metres true width in the Contact FW zone
approximately 50 metres west of a previous intercept. Lapa has
probable gold reserves of 1.2 million ounces (3.9 million tonnes
grading 9.1 grams per tonne). Additionally Lapa contains indicated
resources of 1.4 million tonnes grading 4.15 grams per tonne, or
0.2 million ounces and inferred resources of 1.2 million tonnes
grading 7.30 grams per tonne, or 0.3 million ounces. The best
results from the recent drilling are presented below:
-------------------------------------------------------------------------
True Thickness From To Gold Drill Hole Zone (metres) (metres)
(metres) (g/t) Comments
-------------------------------------------------------------------------
LA07-89-7 CONTACT 3.5 160.4 163.9 15.03 Inside probable reserve
-------------------------------------------------------------------------
LA07-89-8 CONTACT FW 4.7 200.8 206.1 9.64 Inside probable reserve
-------------------------------------------------------------------------
LA07-89-8 CONTACT CENTER 2.8 220.8 223.9 9.91 Inside indicated
resource
-------------------------------------------------------------------------
LA07-89-9 CONTACT 2.8 164.5 167.5 8.58 Inside probable reserve
-------------------------------------------------------------------------
LA07-89-10 CONTACT 3.4 171.4 175.0 12.24 Inside probable reserve
-------------------------------------------------------------------------
LA07-89-10 CONTACT FW 2.8 183.6 186.6 12.1 Inside probable reserve
-------------------------------------------------------------------------
LA07-89-12 CONTACT FW 2.9 239.8 243.2 7.86 Inside inferred resource
-------------------------------------------------------------------------
(x) Preliminary results
http://www.agnico-eagle.com/files/LapaLongSection.pdf Meadowbank -
Focus on Resource to Reserve Conversion An aggressive exploration
program is currently underway at the Meadowbank property. The
exploration focus during 2007 will be resource to reserve
conversion in the vicinity of the open pit reserves, and resource
exploration around the Goose South and Goose Island zones.
Approximately 15,000 metres of diamond drilling are planned.
Currently three diamond drills are active completing resource to
reserve conversion drill holes under the Goose Island open pit area
and also testing the extensions of the Goose South zone discovered
in 2006 and for which no mineral resources have been estimated to
date. The Meadowbank deposit has proven and probable gold reserves
of 2.9 million ounces (21.3 million tonnes grading 4.2 grams per
tonne) and the deposit remains open for expansion. Because the
reserves used in the feasibility study completed by Cumberland
Resources Ltd. were estimated in 2005 using a lower gold price
($400 per ounce) than currently being used by the Company, and
because a portion of the inferred resource occurs within the limits
of the open pit defined by the feasibility study, there is good
potential to increase gold reserves at Meadowbank. In addition, the
Cannu zone reported in January 2007 is not included in the
property's mineral reserves. Further grassroots exploration,
including a property wide airborne geophysics survey and
prospecting, and an additional 2,500 metres of diamond drilling
will test new gold targets on the large Meadowbank property,
largely to the north of the existing mineral resource and reserve
area. http://www.agnico-eagle.com/files/MeadowbankLongSection.pdf
Forward-Looking Statements The information in this press release
has been prepared as at May 9, 2007. Certain statements contained
in this press release 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: statements regarding
timing and amounts of capital expenditures and other assumptions;
estimates of future 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
feasibility study results; the anticipated timing of events with
respect to the Company's minesites; statements and information
regarding the sufficiency of the Company's cash resources; and
other statements and information regarding anticipated trends with
respect to the Company's capital resources and results of
operations. Such statements and information reflect the Company's
views as at the date of this press release 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; 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, 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. Certain of the
foregoing statements, primarily related to projects, are based on
preliminary views of the Company with respect to, among other
things, grade, tonnage, processing, mining methods, capital costs,
and location of surface infrastructure and actual results and final
decisions may be materially different from those currently
anticipated. About Agnico-Eagle Agnico-Eagle is a long established
Canadian gold producer with operations located in Quebec and
exploration and development activities in Canada, Finland, Mexico
and the United States. Agnico-Eagle's LaRonde Mine is Canada's
largest gold deposit in terms of reserves. The Company has full
exposure to changes in gold prices consistent with its policy of no
forward gold sales. It has paid a cash dividend for 25 consecutive
years. Notes to U.S. Investors Regarding the Use of Resources
Cautionary Note to investors concerning estimates of Measured and
Indicated Resources. This press release may use the terms "measured
resources" and "indicated resources". We advise investors that
while those terms are recognized and required by Canadian
regulations, the U.S. Securities and Exchange Commission (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 press release may
also use 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. Detailed Mineral
Reserve and Resource 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. Further information regarding the Company's
mineral reserve and mineral resource estimates (other than in
respect of the Meadowbank mine project) can be found in the
Company's Annual Report on Form 20-F for the year ended December
31, 2006 filed with Canadian securities regulators and with the
United States Securities and Exchange Commission on March 30, 2007.
Marc Legault, Agnico-Eagle's Vice President, Project Development, a
qualified person for the purposes of the Canadian Securities
Administrators' National Instrument 43-101, is the qualified person
that supervised the preparation of the material that forms the
basis for the disclosure of scientific and technical information
set out in this press release.
-------------------------------------------------------------------------
Au (000's Tonnes Category and Zone Au(g/t) Ag(g/t) Cu(%) Zn(%) oz.)
(000's)
-------------------------------------------------------------------------
Proven Mineral Reserve
-------------------------------------------------------------------------
LaRonde 2.76 80.96 0.36 4.06 513 5,779
-------------------------------------------------------------------------
Goldex 2.25 7 97
-------------------------------------------------------------------------
Bousquet 6.30 17 86
-------------------------------------------------------------------------
Subtotal Proven Mineral Reserve 2.80 537 5,962
-------------------------------------------------------------------------
Probable Mineral Reserve
-------------------------------------------------------------------------
LaRonde 2.53 63.53 0.29 3.38 814 10,003
-------------------------------------------------------------------------
LaRonde II 5.99 21.73 0.31 0.79 3,824 19,860
-------------------------------------------------------------------------
Kittila 5.08 2,616 16,022
-------------------------------------------------------------------------
Pinos Altos 3.07 92.77 1,837 18,608
-------------------------------------------------------------------------
Lapa 9.08 1,152 3,944
-------------------------------------------------------------------------
Goldex 2.29 1,682 22,813
-------------------------------------------------------------------------
Subtotal Probable Mineral Reserve 4.06 11,924 91,250
-------------------------------------------------------------------------
Total Proven and Probable Mineral Reserves 3.99 12,462 97,213
-------------------------------------------------------------------------
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Au (000's Tonnes Category and Zone Au(g/t) Ag(g/t) Cu(%) Zn(%) oz.)
(000's)
-------------------------------------------------------------------------
Indicated Mineral Resource
-------------------------------------------------------------------------
LaRonde 1.68 35.14 0.15 2.71 204 3,767
-------------------------------------------------------------------------
LaRonde II 3.08 15.72 0.16 0.74 182 1,834
-------------------------------------------------------------------------
Kittila 3.95 532 4,191
-------------------------------------------------------------------------
Pinos Altos 1.48 61.84 78 1,636
-------------------------------------------------------------------------
Lapa 4.15 181 1,354
-------------------------------------------------------------------------
Bousquet 5.63 309 1,704
-------------------------------------------------------------------------
Ellison 5.68 76 415
-------------------------------------------------------------------------
Total Indicated Resource 3.26 1,561 14,901
-------------------------------------------------------------------------
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Au (000's Tonnes Category and Zone Au(g/t) Ag(g/t) Cu(%) Zn(%) oz.)
(000's)
-------------------------------------------------------------------------
Inferred Mineral Resource
-------------------------------------------------------------------------
LaRonde 4.51 14.97 0.12 0.85 32 218
-------------------------------------------------------------------------
LaRonde II 6.09 28.21 0.50 1.16 990 5,054
-------------------------------------------------------------------------
Kittila 5.51 493 2,780
-------------------------------------------------------------------------
Pinos Altos 3.03 80.54 506 5,198
-------------------------------------------------------------------------
Bousquet 7.45 399 1,667
-------------------------------------------------------------------------
Goldex 2.62 721 8,579
-------------------------------------------------------------------------
Lapa 7.30 285 1,216
-------------------------------------------------------------------------
Ellison 5.81 147 786
-------------------------------------------------------------------------
Total Inferred Resource 4.36 3,573 25,498
-------------------------------------------------------------------------
Meadowbank Project - Reserves and Resources Open Pit Mineral
Reserve (Proven & Probable) (Fourth Quarter 2005)
-------------------------------------------------------------------------
Category Tonnes Grade (g/t) Ounces
-------------------------------------------------------------------------
Proven 3,020,000 4.8 470,000
-------------------------------------------------------------------------
Probable 18,300,000 4.1 2,420,000
-------------------------------------------------------------------------
Proven & Probable 21,320,000 4.2 2,890,000
-------------------------------------------------------------------------
Note: 95% mining recovery and contact dilution applied. Reserves
are a subset of Measured and Indicated Resources. 2007 Mineral
Resource (including Cannu Zone) (Jan. 2007)
-------------------------------------------------------------------------
Deposit Category Tonnes Grade (g/t) Ounces
-------------------------------------------------------------------------
Portage Measured 2,800,000 5.4 480,000
----------------------------------------------- (including Cannu
Zone) Indicated 9,000,000 5.1 1,460,000
----------------------------------------------- Sub-Total
11,800,000 5.1 1,940,000
----------------------------------------------- Inferred 700,000
4.7 100,000
-------------------------------------------------------------------------
Goose Island Measured
----------------------------------------------- Indicated 2,240,000
6.5 470,000 -----------------------------------------------
Sub-Total 2,240,000 6.5 470,000
----------------------------------------------- Inferred 1,370,000
4.2 190,000
-------------------------------------------------------------------------
Vault Measured -----------------------------------------------
Indicated 8,610,000 3.9 1,080,000
----------------------------------------------- Sub-Total 8,610,000
3.9 1,080,000 -----------------------------------------------
Inferred 870,000 5.4 150,000
-------------------------------------------------------------------------
PDF Inferred 507,000 4.5 73,000
-------------------------------------------------------------------------
Total Measured 2,800,000 5.4 480,000
----------------------------------------------- Indicated
19,850,000 4.7 3,010,000
----------------------------------------------- Total 22,650,000
4.8 3,490,000 ----------------------------------------------- (not
included in above) Inferred 3,447,000 4.6 513,000
-------------------------------------------------------------------------
Note: Grade rounded to nearest 0.1 g/t. Numbers may not add due to
rounding. (x) The PDF inferred mineral resource estimate was
prepared by Cumberland. 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. We
use certain terms in this press release, such as "measured,"
"indicated," and "inferred," "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 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
Staff of the SEC has interpreted to mean historic three-year
average prices. The assumptions used for 2006 mineral reserves and
resources estimates reported by the Company were $486 per ounce
gold, $8.69 per ounce silver, $0.89 per pound zinc, $1.99 per pound
copper and C$/US$, US$/Euro, and MXP/US$ exchange rates of 1.21,
1.25 and 11.02 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. A mineral reserve is the economically mineable
part of a measured or indicated 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 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. A probable
mineral reserve is the economically mineable part of an indicated
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. A mineral
resource is a concentration or occurrence of natural, solid,
inorganic or fossilized organic material 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, 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, 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 reasonable 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 study of a mineral deposit in
which all geological, engineering, legal, operating, economic,
social, environmental and other relevant factors are considered in
sufficient detail that it could reasonably serve as the basis for a
final decision by a financial institution to finance the
development of the deposit for mineral production. The qualified
person responsible for the LaRonde and LaRonde II mineral reserve
and resource estimate is Francois Blanchet, Ing., Superintendent of
Geology for the LaRonde mine. The effective date of the estimate is
February 21, 2007. The operating and capital cost assumptions, key
assumptions, parameters and methods that were used to estimate the
mineral resources and reserves are not significantly different as
that found in the Technical Report by Guy Gosselin, P.Geo., that
was posted on SEDAR on March 23, 2005. Issues that might materially
affect the LaRonde and LaRonde II mineral resources and resources
are set out in the Technical Report filed on March 23, 2005. A
qualified person, Serge Levesque, Ing., Superintendent of Technical
Services for the Goldex project, was responsible for the mineral
reserve and mineral resource estimate at the Goldex project.
Descriptions of the key assumptions, parameters and methods used to
estimate the mineral resources and reserves and of any issues which
might materially affect the latter may be found in the Technical
Report on the Estimation of Mineral Resources and Reserves for the
Goldex Extension that was posted on SEDAR on October 27, 2005. The
effective date of the estimate was September 9, 2005. The estimate
reported on February 23, 2006 differs from the previous in that a
minor amount of proven reserves in the form of surface stockpiles
that was measured on December 31, 2006. Although the price
assumptions used to constrain the wireframe models and also to
estimate the mineral resource and reserve on September 9, 2005 are
slightly lower than those currently used, it is the opinion of the
qualified person that the differences are not significant. The
exploration results for Goldex have been prepared and reviewed by a
Qualified Person, Dyane Duquette, P.Geo., Senior Mine Geologist for
the Goldex Mine Project; a description of the data verification
process, the quality assurance program, the quality control
measures, the factors that could affect the data and the analytical
and testing procedures are also presented in the Goldex Technical
Report posted on SEDAR on October 27, 2005. The qualified person
responsible for the Lapa mineral reserve and mineral resource
estimate is Normand Bedard P.Geo., the Superintendent of Technical
Services for the Lapa project. A description of the key
assumptions, parameters and methods used to estimate the mineral
resources and reserves and any issues which might materially affect
the latter may be found in the Technical Report on the Lapa Gold
Project that was posted on SEDAR on June 8, 2006. The effective
date of the estimate is February 21, 2006. The exploration results
for Lapa have been prepared and reviewed by a Qualified Person,
Normand Bedard P.Geo., the Superintendent of Technical Services for
the Lapa project; a description of the data verification process,
the quality assurance program, the quality control measures, the
factors that could affect the data and the analytical and testing
procedures are also presented in the Lapa Gold Project that was
posted on SEDAR on June 8, 2006. Preliminary drill hole results are
assays for which QA/QC results are acceptable but for which check
assays have not yet been completed. The qualified person
responsible for the Kittila mineral resource and mineral reserve
estimate is Marc Legault, the Company's Vice-President, Project
Development. The effective date of the estimate is February 21,
2007. The operating and capital cost assumptions, key assumptions,
parameters and methods that were used to estimate the mineral
resources and reserves are not significantly different as that
found in the Technical Report on the Suurikuusikko project (now the
Kittila mine project) that was posted on SEDAR on March 14, 2006.
There are no known environmental, permitting, legal, title,
taxation, socio-political, marketing, or other relevant issues that
materially affect the Kittila mineral resources or mineral
reserves. The exploration results for Kittila have been prepared
and reviewed by a Qualified Person, Marc Legault, P.Eng., the
Company's Vice-President, Project Development; a description of the
data verification process, the quality assurance program, the
quality control measures, the factors that could affect the data
and the analytical and testing procedures are also presented in the
Suurikuusikko Technical Report posted on SEDAR on March 14, 2006.
Preliminary drill hole results are assays for which QA/QC results
are acceptible but for which check assays have not yet been
completed. The qualified person responsible for the Pinos Altos
mineral resource estimate is Daniel Doucet, Ing., Principal
Engineer Geology for the Company's Technical Services Group,
Abitibi Regional Office. The effective date of the estimate is
February 21, 2007. A technical report describing the resource and
reserve estimate will be filed with the securities regulatory
authorities in due course. Wireframe models of zones comprising the
Pinos Altos deposit that were used to estimate the mineral resource
were derived using drill hole intercepts. Gold assays were cut to
either 15 grams per tonne or 46 grams per tonne, depending on the
rock type. Silver assays were either not cut, or cut to 2,200 grams
per tonne depending on the rock type. For the open pit resource
models (estimated to a maximum depth of approximately 250 metres,
depending on the zone), a minimum grade cut off of 0.45 grams of
gold equivalent per tonne was used to evaluate drill hole
intercepts that have been adjusted to respect a minimum mining
width of 4.0 metres (horizontal width). For the underground
resource models, a minimum net smelter return cut-off of $28.50 per
tonne was used to evaluate drill hole intercepts that have been
adjusted to respect a minimum mining width of 3.0 metres
(horizontal width). The metallurgical recoveries that averaged
94.6% for gold and 52.9% for silver were used to calculate the gold
equivalent grade. The mineral resource estimate was derived using a
three dimensional block model of the deposit; the grades were
interpolated using the inverse distance power squared method. A
cut-off 0.6 gram of gold equivalent per tonne (after dilution) was
used to determine the open pit reserves while a net smelter return
of $38.0 per tonne was applied to the diluted grade for the
underground reserves. A 10% dilution was applied for the open pit
reserve estimate while a dilution that averaged 13% was applied for
the underground reserve estimate. The same metallurgical recoveries
were used in the estimation of the mineral reserves as for the
mineral resources. The data verification process of historic drill
hole information for Pinos Altos consisted of comparing a selective
amount of primary information in the mineral resource data base
(such as drill hole location, orientation, sample location, assay
result and geological description data) against original records
(such as field drill sites, original survey reports and drill core
descriptions, drill core stored in the library, and assay
laboratory reports). Verification also consisted of reviewing the
historic assay data base and selecting additional samples for check
assaying. The historic drill hole information that was verified
showed acceptable results and only a very small but acceptable
error rate was observed. Although this method of selective
verification suggests that the entire mineral resource data base is
of good quality, there may be errors in the proportion of data that
was not verified. All of the exploration information collected by
the Company (except for the assay results) and inserted into the
mineral resource data base was verified against original records.
The quality of the assay data inserted into the Pinos Altos mineral
resource data base was monitored. The verification methods used do
not eliminate all of the possible errors (for example, sample bias
that can only be verified through additional testing). There are no
known environmental, permitting, legal, title, taxation,
socio-political, marketing, or other relevant issues that
materially affect the Pinos Altos mineral resources. Roger Doucet,
P.Geo., the Company's Exploration Manager for Mexico, who is a
Qualified Person, has prepared and reviewed the exploration results
disclosed in this press release. At Pinos Altos, the diamond
drilling equipment recovers either NQ (48 mm diameter) or HQ (64 mm
diameter) core samples. The drill core selected for analysis was
sawed in half with one half sent to a commercial analytical
laboratory and the other half retained for future reference or use.
Agnico-Eagle has established an Analytical Quality Assurance
Program for sampling at Pinos Altos. This program includes the
systematic addition of blank samples, duplicate samples and
certified standards to each batch of samples sent for analysis to
commercial accredited laboratories. Blank samples are used to check
for possible contamination in the laboratories; duplicate samples
quantify overall precision while certified standards determine the
analytical accuracy. In addition approximately 10% of the assayed
samples are sent to a second certified laboratory for check
analysis. ALS Chemex, an accredited exploration sample analysis
laboratory either collects the split samples directly from the
project site or they are delivered by the Company using a secure
chain of custody procedure. The samples are prepared by ALS Chemex
either in Chihuahua, Chihuahua or Hermosillo, Sonora and the
analysis is done in Vancouver, British Columbia. BSI Inspectorate
an accredited laboratory in Reno, Nevada, re-analyses all of the
samples selected for check assaying. The gold assaying method,
using a 30 gram charge, is by Fire Assay with either an atomic
adsorption finish or, if the result is greater than 3 parts per
million of gold, a gravimetric finish as requested by the project
geologist. Silver analysis, from a 30 gram charge, is either by
three acid digestion followed by atomic absorption or, if the
atomic absorption results is greater than 200 parts per million of
silver by fire Assay with a gravimetric finish as requested.
Meadowbank open pit mineral reserves (Q4/2005) have been prepared
in accordance with NI 43-101. Dr. Mike Armitage, Managing Director
of SRK Consulting (UK) Limited, is the independent Qualified Person
responsible for preparation of stated reserves. Meadowbank mineral
resources (Q4/05) were prepared in accordance with the requirements
set out in NI 43-101 under the direction of Dr. Mike Armitage,
Managing Director of SRK Consulting (UK) Limited, who is an
independent Qualified Person as defined by NI 43-101 The PDF
deposit resource estimates (Aug. 2000) were prepared by Cumberland
in accordance with standards outlined in National Instrument 43-101
and CIM Standards on Mineral Resources and Reserves (August 2000).
James McCrea, P.Geo., Manager, Mineral Resources for Cumberland, is
the Qualified Person under NI 43-101. PDF deposit resources are not
included in the feasibility study of the Meadowbank project. The
Cannu mineral resource estimate (Jan. 2007) was prepared in
accordance with the requirements set out in NI 43-101 under the
direction of Dr. Mike Armitage , Managing Director of SRK
Consulting (UK) Limited, who is an independent Qualified Person as
defined by NI 43-101. The Cannu zone resources are not included in
the feasibility study of the Meadowbank project. To the best of
Agnico-Eagle's knowledge, the Cumberland estimate is relevant and
reliable. Exploration Drill Hole Location and Orientation
Information Disclosure of Kuotko, Hako and Paha Drill Hole
Locations:
-------------------------------------------------------------------------
HOLE-ID N(x) E Z AZIMUTH DIP LENGTH
-------------------------------------------------------------------------
ISO06016 7549650 2559980 252 120.0 -56.5 315.2
-------------------------------------------------------------------------
ISO06017 7549626 2560000 250 120.0 -56.0 173.6
-------------------------------------------------------------------------
ISO06018 7549652 2560005 250 120.0 -56.0 168.0
-------------------------------------------------------------------------
ISO06019 7549688 2560050 250 120.0 -56.0 212.2
-------------------------------------------------------------------------
ISO07001 7550238 2560278 252 120.0 -56.0 244.0
-------------------------------------------------------------------------
ISO07002 7550272 2560300 252 120.0 -56.0 248.0
-------------------------------------------------------------------------
HAK06010 7540900 2558935 221.9 270.4 56.0 364.2
-------------------------------------------------------------------------
HAK06014 2558680 2558680 219.3 268.9 50.0 201.9
-------------------------------------------------------------------------
PAH07011 7545000 2559874 231 267.5 -47.8 229.7
-------------------------------------------------------------------------
PAH07014 7545000 2559777 229 272.6 -48.7 231.8
-------------------------------------------------------------------------
(x) Finnish KKJ2 Coordinate System Disclosure of Creston Colorado
Drill Hole Locations:
-------------------------------------------------------------------------
HOLE-ID N(x) E Z AZIMUTH DIP LENGTH
-------------------------------------------------------------------------
CM-06-001 3135480 760749 1945 88 -41 59
-------------------------------------------------------------------------
CM-06-002 3135494 760780 1954 93 -39 43
-------------------------------------------------------------------------
CM-06-003 3135576 760785 1972 90 -45 65
-------------------------------------------------------------------------
CM-06-004 3135577 760753 1962 102 -71 198
-------------------------------------------------------------------------
CM-06-005 3135682 760785 1926 90 -42 209
-------------------------------------------------------------------------
CM-07-006 3135686 760825 1956 91 -47 87
-------------------------------------------------------------------------
CM-07-007 3135682 760847 1961 92 -46 72
-------------------------------------------------------------------------
CM-07-010B 3135884 760893 1993 90 -90 25
-------------------------------------------------------------------------
CM-07-011 3135897 760840 1990 89 -43 85
-------------------------------------------------------------------------
CM-07-012 3135873 760801 1987 79 -45 206
-------------------------------------------------------------------------
CM-07-014 3135990 760882 2005 89 -47 84
-------------------------------------------------------------------------
CM-07-015A 3135983 760856 1998 88 -70 53
-------------------------------------------------------------------------
CM-07-021 3136181 760771 1957 90 -45 87
-------------------------------------------------------------------------
CM-07-029 3135879 760736 1994 90 -45 219
-------------------------------------------------------------------------
(x) UTM Nad27 Coordinate System - Zone 13 Disclosure of Mascota
Drill Hole Locations:
-------------------------------------------------------------------------
HOLE-ID N(x) E Z AZIMUTH DIP LENGTH
-------------------------------------------------------------------------
CM-07-022 3136331 760439 1995 80 -45 74
-------------------------------------------------------------------------
CM-07-026A 3136302 760296 1939 80 -90 12
-------------------------------------------------------------------------
CM-07-028 3136260 760405 1949 80 -45 50
-------------------------------------------------------------------------
(x) UTM Nad27 Coordinate System - Zone 13 DATASOURCE: Agnico-Eagle
Mines Limited CONTACT: David Smith, Vice-President, Investor
Relations, (416) 947-1212
Copyright