NYSE: AEM 53.55
-0.52 -0.96%
Volume: 1,510,803
July 19, 2019
TSX: AEM 69.94
-0.50 -0.71%
Volume: 863,370
July 19, 2019
Gold: 1,424.33
+0.00 +0%
July 21, 2019
As of December 31, 2018

Operations/Projects Mineral Resources

Agnico Eagle Mines Ltd.

NOTES:Mineral reserves are not a subset of mineral resources. Tonnage amounts and contained metal amounts presented in this table have been rounded to the nearest thousand, so aggregate amounts may differ from column totals. Please refer to the Company news release dated February 14, 2019 and the Company’s Annual Information Form for the year ended December 31, 2018, for further details on mineral reserves and mineral resources. The scientific and technical information relating to Agnico Eagle's mineral reserves and mineral resources contained herein (other than the Canadian Malartic mine) has been approved by Daniel Doucet, Eng., Senior Corporate Director, Reserve Development of the Company; relating to mineral reserves at the Canadian Malartic mine, has been approved by Sylvie Lampron, Eng., Senior Project Mine Engineer at Canadian Malartic Corporation; and relating to mineral resources at the Canadian Malartic mine and the Odyssey and East Malartic projects, has been approved by Pascal Lehouiller, P. Geo., Senior Resource Geologist at Canadian Malartic Corporation, each of whom is a "Qualified Person" for the purposes of NI 43-101.

The assumptions used for the December 2018 mineral reserves estimate at all mines and advanced projects reported by the Company (other than the Canadian Malartic mine and the Upper Beaver project) were US$1,150 per ounce gold, US$16.00 per ounce silver, US$1.00 per pound zinc, US$2.50 per pound copper and exchange rates of C$1.20 per US$1.00, 16.00 Mexican pesos per US$1.00 and US$1.15 per €1.00 for all mines and projects other than the Meadowbank mine (excluding Amaruq) in Canada, and the Creston Mascota (Bravo) satellite mine and Sinter deposit at the Pinos Altos mine in Mexico; due to the shorter remaining mine life for the Meadowbank mine in Canada, and the Creston Mascota mine and Sinter deposit at the Pinos Altos mine in Mexico, the exchange rates used were C$1.25 per US$1.00 and 17.00 Mexican pesos per US$1.00 (other assumptions unchanged).

The Canadian Malartic General Partnership, owned by Agnico Eagle (50%) and Yamana (50%), which owns and operates the Canadian Malartic mine, and the Upper Beaver project, owned by Agnico Eagle (100%) since March 2018, have estimated the December 2018 mineral reserves of the Canadian Malartic mine and the Upper Beaver project using the following assumptions: US$1,200 per ounce gold; US$2.75 per pound copper; a cut-off grade at the Canadian Malartic mine between 0.37 g/t and 0.38 g/t gold (depending on the deposit); a net smelter return (NSR) cut-off value of C$125/tonne for the Upper Beaver project; and an exchange rate of C$1.25 per US$1.00.