Scotiabank BBQ - august 14 2014

SCOTIABANK BBQ

Toronto August 15, 2014

AGNICO EAGLE | SCOTIA BBQ 2014 2

FORWARD LOOKING STATEMENTS

The information in this presentation has been prepared as at August 15, 2014. 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. Such statements include without limitation: statements the Company's forward-looking production guidance, including estimated ore grades, project timelines, drilling results, metal production, mine estimates horizons, production, total cash costs per ounce, minesite costs per tonne; all-in sustaining costs and cash flows; the estimated timing and conclusions of technical reports and other studies; the methods by which ore will be extracted or processed; statements concerning expansion projects, recovery rates, mill throughput, and projected exploration expenditures, including costs and other estimates upon which such projections are based; estimates of depreciation expense, general and administrative expense and tax rates; the impact of maintenance shutdowns; 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, total cash costs, minesite costs, all-in sustaining costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements 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 regarding anticipated future exploration; the anticipated timing of events with respect to the Company’s mine and project sites and statements and information regarding the sufficiency of the Company’s cash resources and other statements regarding anticipated trends with respect to the Company's operations, exploration and the funding thereof. Such statements 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. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material factors and assumptions used in the preparation of the forward looking statements and information contained herein, which may prove to be incorrect, include, but are not limited to, the assumptions set forth herein and in management's discussion and analysis (“MD&A”) and the Company's Annual Information Form (“AIF”) for the year ended December 31, 2103 filed with Canadian securities regulators and that are included in its Annual Report on Form 40-F for the year ended December 31, 2013 (“Form 40-F”) filed with the U.S. Securities and Exchange Commission (the “SEC”) as well as: that there are no significant disruptions affecting operations; that production, permitting and expansion at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metals prices, exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; that Agnico Eagle's current estimates of mineral reserves, mineral resources, mineral grades and metal recovery are accurate; that there are no material delays in the timing for completion of ongoing growth projects; that the Company's current plans to optimize production are successful; and that there are no material variations in the current tax and regulatory environment. 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 AIF and MD&A filed on SEDAR at www.sedar.com and included in the Form 40-F filed on EDGAR at www.sec.gov, as well as the Company’s other filings with the Canadian securities regulators and the SEC. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. For a detailed breakdown of the Company’s reserve and resource position see the AIF or Form 40-F.


NOTES TO INVESTORS

Note Regarding the Use of Non-GAAP Financial Measures

This document discloses certain measures, including ‘‘total cash costs per ounce’’ and ‘‘minesite costs per tonne’’ that are not recognized measures under US GAAP. This data may not be comparable to data presented by other gold producers. For a reconciliation of these measures to the most directly comparable financial information presented in the consolidated financial statements prepared in accordance with US GAAP and for an explanation of how management uses these measures, see “Reconciliation of Non-GAAP Financial Performance Measures” in the Company’s earnings news release dated July 30, 2014 as well as the Company’s MD&A and Form 40-F. All references herein to total cash costs per ounce are to total cash costs per ounce on a by-product basis, that is, deducting by-product metal revenue from production costs. For further information on this measure and for information on total cash costs per ounce on a co-product basis, that is before the effect of by-product metals revenues, please see the Company’s earnings news release dated July 30, 2014. The Company believes that the generally accepted industry measures that it uses are realistic indicators of operating performance and are useful in allowing year over year comparisons. However, non-US GAAP measures should be considered together with other data prepared in accordance with US GAAP, and such measures, taken by themselves, are not necessarily indicative of operating costs or income measures prepared in accordance with US GAAP. This document also contains information as to estimated future total cash costs per ounce and minesite costs per tonne. The 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 its mines and projects and, consistent with the reconciliation of these actual costs referred to above, 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-US GAAP financial measures to the most comparable US GAAP measure.

Note Regarding Production Guidance

The gold production guidance is based on the Company’s mineral reserves but includes contingencies and 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.


AGNICO EAGLE – A PREMIUM GOLD EQUITY

RUNNING A MANAGEABLE

BUSINESS

Delivering on

Production Guidance

45% Production

Growth Through

2016*

2014 AISC expected to

be below $1000 per

ounce

Highest Reserve Grade

Amongst North

American Peers

Balance Sheet

Flexibility Low Share Count after

57 Years

32 years of

Consecutive Dividend Payments

Low Political Risk

Pipeline Expected to Drive Future Production

Growth

Experienced Management

with Diversified Technical Expertise

*Includes Agnico Eagle’s 50% share of production from the Canadian Malartic mine


2014 H1 HIGHLIGHTS

Gold production of 692K oz – Total cash costs at $579/oz, better than $678/oz guidance

Joint acquisition with Yamana Gold of Osisko Mining Corporation completed on June 16, 2014 – studies underway to optimize the Canadian Malartic mine plan

Meadowbank

Kittila

Pinos Altos La India

LaRonde Lapa Goldex NORTHERN

BUSINESS

SOUTHERN BUSINESS

Canadian Malartic (50%)

Production guidance increased to 1.35M oz - 1.37M oz with cash costs forecasted to be between $650 and $675 per ounce, All-in sustaining cost are unchanged at $990/oz

Mid-Year 2014 Exploration Update – IVR discovery near Meadowbank continues to expand; new deep intersection at Kittila; and technical studies progress at Meliadine and Akasaba West projects

Creston Mascota


Q2 2014 RESULTS CONTINUED STRONG OPERATING PERFORMANCE

Q2 2014 YTD 2014 All amounts are in US$ (Unless Otherwise Indicated)

Production (Gold oz)

Total Cash Cost* ($/oz) Operating Margin ($000’s) Production (Gold oz) Total Cash Cost*

($/oz) Northern Business LaRonde 48,494 $691 $27,820 107,846 $642 Lapa 18,821 $847 $8,763 42,230 $747 Goldex 23,929 $654 $13,674 43,359 $678 Canadian Malartic (50%) 11,878 $614 $547 11,878 $614 Kittila 31,830 $862 $14,002 70,382 $825 Meadowbank 118,161 $577 $80,644 274,605 $496

253,113 $664 $145,450 550,300 $603 Southern Business Pinos Altos 43,978 $481 $33,324 89,195 $465 Creston Mascota 11,159 $616 $7,336 21,476 $615 La India 17,809 $457 $12,678 31,509 $446 72,946 $496 $53,338 142,180 $484 Total 326,059 $626 $198,788 692,480 $579

Q2 2014 Total Operating Margin – $198.8 M Q2 2014 Revenue by Metal

Gold 95%

Silver 4%

Base Metals 1%

Meadowbank, 41%

Pinos Altos, 17% LaRonde, 14%

Kittila, 7%

Goldex, 7%

La India, 6%

Lapa, 4%

Creston Mascota, 4%

Canadian Malartic, 0.3%

*Total cash costs are presented on a by-product basis, that is net of by-product revenue

NORTHERN BUSINESS


LARONDE GOOD COST PERFORMANCE CONTINUES

Production and service hoist drive upgrade completed Strong costs per tonne performance driven by reduced

labor and contractor costs and lower material costs Production from the deeper mine expected to increase

in H2 2014 as deeper higher grade ore from the level 293 pyramid advances to maturity

Mined grade forecast to increase towards the average reserve grade over the next several years

Proven Gold Reserves (million oz) (6.0 M tonnes @ 3.48 g/t) 0.7

Probable Gold Reserves (million oz) (18.1 M tonnes @ 5.50 g/t) 3.2

Indicated resource (million oz) (4.2 M tonnes @ 2.12 g/t) 0.3

Inferred resource (million oz) (10.5 M tonnes @ 4.61 g/t) 1.6

Estimated LOM (years) 12

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources.

$80

$90

$100

$110

-

10

20

30

40

50

60

70

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14

Production (koz) Cost/tonne


MEADOWBANK RECORD THROUGHPUT AND CONTINUED COST CONTROL DRIVES STRONG PERFORMANCE

Record daily throughput in Q2 2014 due to continued optimization of mine plan and improved equipment availability

Increase in year-over-year production reflecting higher grades, increased throughput and better recoveries

60:40 split of production between H1 and H2 anticipated as the higher grade Goose pit expected to be mined out by year-end 2014

Exploration drilling has expanded the scope of the mineralization at the IVR property – a second phase, 20,000 metres drill program has commenced



Indicated gold resource (million oz) (7.3 M tonnes @ 3.28 g/t) 0.8

Inferred gold resource (million oz) (3.3 M tonnes @ 3.96 g/t) 0.4



$70

$76

$82

$88

$94

-

25

50

75

100

125

150

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14



Agnico Eagle and Yamana each acquired a 50% interest in Osisko Mining and formed a joint committee to operate the Canadian Malartic mine on June 16, 2014

A new NI 43-101 report for Canadian Malartic was released August 13, 2014 and an update on optimization plans is expected at the end of Q3 2014

Partners will also jointly explore the Kirkland Lake Assets, where one drill is currently active on each of the Upper Beaver and Canadian Kirkland properties.

Exploration programs and budgets for the Kirkland Lake camp are expected to be released later this fall

CANADIAN MALARTIC GP (50% INTEREST) OPTIMIZATION AND COST SAVING STUDIES UNDERWAY

$540

$560

$580

$600

$620

100

110

120

130

140

150

Q1-14 Q2-14*

Production (koz) Cash Costs

*Includes 11,878 ounces attributable to AEM post the Osisko acquisition

P&P Gold Reserves* (million oz) (131.6 M tonnes @ 1.06 g/t) 4.5

Measured & Indicated Gold Resources (Undiluted), Including Reserves* (million oz) (157.1 M tonnes @ 1.07 g/t)

5.4

Inferred gold resource* (million oz) (23.2 M tonnes @ 0.77 g/t) 0.6

Estimated LOM (years) *AEM’s 50% portion as of June 15, 2014

14

See AEM August 13, 2014 press release for detailed breakdown of reserves and resources.


Mill expansion expected to be completed by the end of 2014 (ahead of original mid-2015 schedule)

Expansion scope increased from 750 tpd to 1,000 tpd; mill expected to process over 4,000 tpd and expected to be completed within original budget of $103 million

Studies for Rimpi zone and shaft completed – Focus on developing the Rimpi zone through a ramp system to provide additional mill feed

Deep drilling indicates Suuri zone remains open below 1,340m (approximately 240m below the reserve base)



Measured & Indicated gold resource (million oz) (11.0 M tonnes @ 2.79 g/t) 1.0




KITTILA PLANT EXPANSION TO BE COMPLETED AHEAD OF SCHEDULE

€ 60

€ 70

€ 80

€ 90

-

10

20

30

40

50

60

Q4-12 Q1-13 Q3-13 Q4-13 Q1-14 Q2-14


No production in Q2-13 due to scheduled shutdown


Throughput forecast to increase to 6,000 tpd by year-end 2014

Q2 2014 minesite costs per tonne were C$33, significantly lower than 2014 guidance (C$37/t)

Accelerated development of the exploration ramp into the D zone (the top of the Deep zone) is underway

Development progressing on the M2, M5 and E2 satellite zones and technical studies on development of additional satellites expected in early 2015

Akasaba West technical study expected by year end 2014


Measured gold resource (million oz) (12.4 M tonnes @ 1.86 g/t)

0.7





GOLDEX EXCELLENT COST PERFORMANCE; MILL RAMP UP TO 6,000 TPD AHEAD OF SCHEDULE

$30

$33

$36

15

20

25

Q4-13 Q1-14 Q2-14



Lower minesite costs in Q2 2014 due to lower labor costs and continued cost reduction efforts despite mining at a deeper depth

Grades are expected to improve in H2 2014 with mining commissioned in the Zulapa 7 zone







LAPA HIGHER GRADES EXPECTED FROM ZULAPA ZONE 7 IN Q4 2014

$100

$105

$110

$115

$120

-

5

10

15

20

25

30

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14


SOUTHERN BUSINESS


PINOS ALTOS STRONG CASH FLOW GENERATION CONTINUES

Costs in the 2014 period were favorably impacted by shorter hauls and better drilling and blasting performance (lower explosives consumption) in the open pit and lower consumable costs

The shaft is currently excavated to a depth of 228 metres with concrete lining to a depth of 212 metres

Cost per tonne variation primarily due to normal fluctuations in milled vs. heap leach ratio ore mix






See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. $35

$50

$65

-

10

20

30

40

50

Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14



CRESTON MASCOTA PHASE 3 LEACH PAD NOW COMMISSIONED

The expanded capacity for the agglomerator and overland conveyors was installed in May and commissioned in early June

Phase 3 leach pad was completed in June and has been fully commissioned

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. $10

$15

$20

5

6

7

8

9

10

11

12

Q2-13 Q3-13 Q4-13 Q1-14 Q2-14


No production in Q4-12 and Q1-13 due to temporary suspension of Phase one leach pad







LA INDIA RAMP-UP CONTINUES; CRUSHING CIRCUIT REFINEMENTS EXPECTED TO ENHANCE STACKING RATES

1.1M tonnes of ore stacked on heap leach pad during Q2 2014 which yielded 17,809 ounces of payable gold production

Throughput continues to ramp up - stacking rates currently averaging approximately 12,500 tpd

Planned modifications to the crushing and stacking circuits are expected to be completed during Q3 2014

La India closed the first “water year” (July 1, 2013 to June 30, 2014) with approximately 200,000 m3 in storage



Measured gold resource (million oz) (5.0 M tonnes @ 0.33 g/t)

0.1




EXPLORATION


PROJECT PIPELINE EXPECTED TO PROVIDE FURTHER GROWTH

Expansion EXPLORATION ADVANCED DEVELOPMENT & FEASIBILITY

EXPANSIONS

Kittila Plant Expansion

Rimpi Development Hanhimaa

IVR

Goldex Satellites NO

RTH

ERN

BU

SIN

ESS Meliadine

Pinos Altos Shaft

Pinos Altos Satellites

Tarachi and La India

SOU

THER

N B

USI

NES

S

Kirkland Lake Partnership (50%)

Akasaba West

Bousquet 5 UG


SIGNIFICANT EXPLORATION FOOTPRINT NEAR MEADOWBANK IVR AND GREYHOUND PROJECTS PROVIDE POTENTIAL EXPLORATION UPSIDE


IVR DISCOVERY NEAR MEADOWBANK CONTINUES TO EXPAND FOUR MINERALIZED ZONES HAVE BEEN OUTLINED – MINERALIZATION OPEN IN ALL DIRECTIONS

IVR14-044 8.70 g/t Au / 5.8 m

IVR14-031 10.90 g/t Au / 2.9 m

and 26.13 g/t Au / 4.8 m

IVR14-015 10.52 g/t Au / 3.5 m

IVR13-008 6.55 g/t Au / 7.2 m

And 9.77 g/t Au / 3.5 m

IVR13-004 6.20 g/t Au / 5.7 m

And 6.05 g/t Au / 4.1 m

IVR14-037 2.81 g/t Au / 10.8 m

Incl. 5.83 g/t Au / 2.8 m

IVR14-039 3.70 g/t Au / 7.4 m

IVR14-017 1.83 g/t Au / 14.5 m

Incl. 2.72 g/t Au / 4.8 m

IVR14-028 27.62 g/t Au / 3.0 m


IVR GEOPHYSICAL MAP MULTIPLE EM-MAGNETIC ANOMALIES OUTLINED

7 km of MAG-EM favourable target

IVR project

area


Exploration ramp extended by 301 metres during Q2 2014, now 527 metres long, to a depth of 168 metres below surface

Surface drilling program completed early August 2014 130 holes (37,991metres) completed Conversion drilling at Wesmeg/Normeg and Tiriganiaq zones and exploration drilling at Pump,

Discovery and Wolf zones

Significant new discovery in the Pump zone, indicating potential for high-grade resources – including hole M14-2220 that yielded 19.8 g/t gold over 5.2 metres at 12 metres depth

Final Environmental Impact Statement (FEIS) delivered in Q2 2014

Updated technical study on track for late 2014

MELIADINE 2014 DRILLING EXPECTED TO FURTHER EXPAND RESOURCE BASE


Probable Gold Reserves (million oz) (11.9 M tonnes @ 7.38 g/t)

2.8



Estimated LOM (years)



MELIADINE DEPOSIT LOCATIONS 38,000 METRES OF INFILL AND CONVERSION DRILLING CARRIED OUT ON MULTIPLE ZONES


MELIADINE - MINERALIZATION EXPANDED AT WESMEG/NORMEG CONVERSION DRILLING CONFIRMS GRADE AND WIDTH OF NEAR SURFACE DEPOSITS

M14-2226 12.51 g/t Au / 5.3 m

M14-2249 6.16 g/t Au / 3.1 m

and 7.70 g/t Au / 7.0 m

M14-2269 10.07 g/t Au / 5.8 m


DRILLING AT WOLF EXTENDS MINERALIZATION DOWN PLUNGE RESOURCES EXPECTED TO GROW

M14-2287 6.12 g/t Au / 4.2 m

M14-2292 6.52 g/t Au / 16.6 m

Incl. 8.42 g/t Au / 11.0 m

M14-2268 5.90 g/t Au / 4.0 m


NEW MINERALIZATION DISCOVERED AT PUMP ZONE GOOD POTENTIAL TO HOIST ADDITIONAL HIGH-GRADE RESOURCES

M14-2220 19.77 g/t Au / 5.2 m

and 8.29 g/t Au / 5.0 m

M14-2229 18.91 g/t Au / 5.4 m

M14-2305 9.50 g/t Au / 3.9 m

M14-2244 11.51 g/t Au / 3.1 m


2014 LARONDE DEEP EXPLORATION PROGRAM DRILLING FOCUSED ON UPGRADING RESOURCES BELOW 3.1 KM

• A 3,600 metre drill program will be carried out to develop new resources at depth

• A 2,500 metre drill program

is planned for the 20 North Zone - good potential for conversion of resources to reserves


RAMP DEVELOPMENT ACCELERATED INTO TOP OF THE D ZONE DEVELOPMENT OF ADDITIONAL SATELLITES COULD POTENTIALLY EXTEND MINE LIFE

• Development is progressing on the M2, M5 and E2 satellite zones

• A new surface portal has been collared and the old ramp is being refurbished to provide access to the M3 and M4 zones. The ramp will also facilitate the movement of equipment from surface to UG

• Ramp into the top of the D zone has been accelerated to provide access for additional exploration drilling

• Development of additional satellite zones could potentially extend the mine life, and improve costs given the mill has capacity for 8,000 tpd

• The Goldex mining approach may also open up other mining opportunities in the region.


INFILL DRILLING COMPLETED AT AKASABA WEST FEASIBILITY STUDY LATER THIS YEAR EXPECTED TO SUPPORT MILLING AT GOLDEX

164-14-009 1.27 g/t Au, 0.63% Cu / 45 m

164-13-001 1.14 g/t Au, 0.56% Cu / 91 m

164-14-022 0.84 g/t Au, 0.48% Cu / 81 m

164-14-017 1.41 g/t Au, 0.59% Cu / 66 m

164-14-014 0.84 g/t Au, 0.50% Cu / 70 m

164-14-019 1.13 g/t Au, 0.66% Cu / 78 m


KIRKLAND LAKE PROJECTS 35M OZ OF HISTORICAL GOLD PRODUCTION IN THE DISTRICT - MAIN TARGETS UPPER BEAVER & CANADIAN KIRKLAND

230km2 hosting five deposits with disclosed NI 43-101 resources of 2.1 Moz indicated and 1.8 Moz inferred

BIDGOOD (OP) Ind: 1.5 Mt @ 1.7 g/t Au, 76 k oz Inf: 0.3 Mt @ 2.0 g/t Au, 21 k oz

AK (UG) Ind: 1.2 Mt @ 4.5 g/t Au, 164 k oz Inf: 1.5 Mt @ 4.2 g/t Au, 207 k oz

ANOKI / MCBEAN (UG) Ind: 1.4 Mt @ 4.7 g/t Au, 217 k oz Inf: 1.6 Mt @ 4.7 g/t Au, 237 k oz

MACASSA MINE + SMC P+P: 2.5 Mt @ 17.1 g/t Au, 1.4 M oz M+I: 3.8 Mt @ 17.0g/t Au, 2.1M oz Inf: 1.9 Mt @ 18.6g/t Au, 1.1M oz

(UG) Ind: 0.24 Mt @ 4.3 g/t Au, 33 k oz (UG) Inf: 3.6 Mt @ 4.8 g/t Au, 557 k oz (OP) Ind: 1.7 Mt @ 1.9 g/t Au, 104 k oz (OP) Inf: 1.3 Mt @ 1.9 g/t Au, 76 k oz

UPPER BEAVER (UG) Ind: 6.9 Mt @ 6.6 g/t Au, 1.5 M oz Inf: 4.6 Mt @ 4.9 g/t Au, 712 k oz

Canadian Kirkland

Upper Beaver

Source: Modified from Osisko reports and Kirkland Lake Gold reports


EVALUATION OF REGIONAL TARGETS CONTINUES AT KITTILA EXPLORATION ONGOING ON HANHIMAA AND DRILLING HAS RESUMED AT VIITONEN

KAPSA


DEEP DRILLING EXTENDS SUURI ZONE AT DEPTH MINERALIZATION APPEARS OPEN APPROXIMATELY 240M BELOW CURRENT RESERVES

ROD14-002C 6.81 g/t Au / 6.4 m

Incl. 12.0 g/t Au / 2.2 m


MULATOS DISTRICT EXPECTED TO YIELD FURTHER DISCOVERIES LARGE LAND POSITION IN A SIGNIFICANT GOLD DISTRICT

Acquisition of surface rights continues in the district


EXPLORING BULK TONNAGE PORPHYRY TARGETS CLOSE TO LA INDIA ARROYO HONDO TARGET YIELDS ENCOURAGING RESULTS

Both high Sulphidation and Porphyry targets have been defined to date

Drill highlights include: AH-13-010 0.33 g/t Au over 111m

AH-14-014 0.27 g/t Au over 347m incl. 0.87 g/t Au over 35.7m

AH-14-025 0.78 g/t Au over 67m

SUMMARY


Details on the optimization plan for Canadian Malartic are expected to be presented by the Partnership by the end of Q3 2014

Anticipated update to 2015 guidance by the end of Q3 2014

Completion of 1,000 tpd mill expansion at Kittila expected by year end-2014

Update on Akasaba West project expected in late 2014

Updated Meliadine technical study expected in late 2014 or early 2015

Installation of new ore conveyor at LaRonde Deep expected in 2015 – should help reduce costs and congestion

Continuing evaluation of satellite deposits at Pinos Altos and Goldex, which could enhance production and cost profiles

FUTURE CATALYSTS


234,837 218,980

808,974 880,355

$640 $672 $663

2012A 2013A 2014E 2015E** 2016E**

INCREASED 2014 PRODUCTION AND LOWER COST GUIDANCE STRONG OPERATIONAL PERFORMANCE AND OSISKO ACQUISITION DRIVES 14% INCREASE FROM ORIGINAL GUIDANCE OF 1.19M OZ

Payable Gold Production Profile

* Mid range of estimated 2014 revised guidance ** Includes 50% of Osisko’s March 2014 LOM production for the Canadian Malarctic mine

1,043,811 1,099,335

1,360,000*

1,546,000 1,590,000

Northern Business (oz) Southern Business (oz) Annual Production Cash Cost


0%

500%

1000%

1500%

2000%

2500%

04/01/1999 21/05/2001 13/10/2003 02/03/2006 21/07/2008 06/12/2010 26/04/2013

Source: Bloomberg

AEM US Equity XAU Index Gold Spot

AEM US Equity CAGR

15.25% Gold Spot CAGR

10.19% XAU Index CAGR

2.82%

INDEXED SHARE PERFORMANCE SINCE 1999 AGNICO EQUITY POISED FOR OUTPERFORMANCE

APPENDIX


GOLD AND SILVER RESERVES AND RESOURCES DECEMBER 31, 2013

Gold Silver

Tonnes (000’s)

Gold (g/t)

Gold (ounces) (000’s)

Tonnes (000’s)

Silver (g/t)

Silver (ounces) (000’s)

Proven & Probable Reserves

Northern Business 93,618 4.60 13,841 24,127 19.59 15,192

Southern Business 55,800 1.69 3,024 28,703 64.32 59,354

Total 149,418 3.51 16,865 52,830 43.89 74,546

Measured & Indicated Resources



Total 157,040 1.91 9,654 18,177 33.37 19,502

Inferred Resources



Total 169,470 1.86 10,121 28,243 21.97 19,948

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. Reserves are not a subset of resources.


COPPER, ZINC AND LEAD RESERVES AND RESOURCES DECEMBER 31, 2013

Copper Zinc Lead

Tonnes (000’s)

Copper (%)

Copper (tonnes)

Tonnes (000’s)

Zinc (%)

Zinc (tonnes)

Tonnes (000’s)

Lead (%)

Lead (tonnes)

Proven & Probable Reserves

Northern Business 24,127 0.25 59,519 24,127 0.67 161,108 24,127 0.04 9,964

Southern Business

Total 24,127 0.25 59,519 24,127 0.67 161,108 24,127 0.04 9,964

Measured & Indicated Resources


Southern Business

Total 4,242 0.16 6,981 4,242 1.61 68,127 4,242 0.16 6,793

Inferred Resources


Southern Business

Total 10,536 0.27 28,118 10,536 0.55 58,463 10,536 0.05 5,176

See AEM Feb 12, 2014 press release for detailed breakdown of reserves and resources. Reserves are not a subset of resources.


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”. Investors are advised 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”. Investors are advised 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 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 Mines Limited reports mineral resource and reserve estimates in accordance with the CIM guidelines for the estimation, classification and reporting of resources and reserves in accordance with the Canadian securities regulatory authorities' (the "CSA") National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). These standards are similar to those used by the SEC’s Industry Guide No. 7, as interpreted by Staff at the SEC ("Guide 7"). However, the definitions in NI 43-101 differ in certain respects from those under Guide 7. Accordingly, mineral reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. Under the requirements of the SEC, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. A "final" or "bankable" feasibility study is required to meet the requirements to designate reserves under Industry Guide 7. Agnico Eagle uses certain terms in this news 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. In prior periods, reserves for all properties were typically estimated using historic three-year average metals prices and foreign exchange rates in accordance with the SEC guidelines. These guidelines require 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. Given the current lower commodity price environment, Agnico Eagle has decided to use price assumptions that are below the three-year averages. The assumptions used for the mineral reserves estimates at all mines and advanced projects as of December 31, 2013, reported by the Company on February 12, 2014, are $1,200 per ounce gold, $18.00 per ounce silver, $0.82 per pound zinc, $3.00 per pound copper, $0.91 per pound lead and C$/US$, US$/Euro and MXP/US$ exchange rates of 1.03, 1.32 and 12.75, respectively.

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.


NOTES TO INVESTORS REGARDING THE USE OF RESOURCES

A mineral reserve is the economically mineable part of a measured and/or indicated mineral resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.

Modifying factors are considerations used to convert mineral resources to mineral reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.

A proven mineral reserve is the economically mineable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors. A probable mineral reserve is the economically mineable part of an indicated and, in some circumstances, a measured mineral resource. The confidence in the modifying factors applying to a probable mineral reserve is lower than that applying to a proven mineral reserve.

A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.

A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with confidence sufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. 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 applicable modifying factors 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 news release is December 31, 2013. 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 AIF and Form 40-F. The scientific and technical information contained herein has been approved by Daniel Doucet, Corporate Director, Reserve Development, and/or Alain Blackburn, Senior Vice-President, Exploration. Both Mr. Doucet and Mr. Blackburn are designated P.Eng. with the Ordre ingenieurs du Québec and qualified persons as defined by NI 43-101.

Trading Symbol: AEM on TSX & NYSE

Investor Relations: 416-947-1212 [email protected]

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Scotiabank BBQ - august 14 2014

Investor Relations

Transcript of Scotiabank BBQ - august 14 2014