Agnico Eagle Mines Limited · TSX:AEM
Agnico Eagle Mines — Merrill Lynch Conference 2005
24 slides from Agnico Eagle Mines's conference presentation, Sep 16, 2005
Slide 1: Agnico-Eagle Mines Limited Business Review 2005
Proven and Probable Agnico-Eagle Mines Limited Business Review 2005 (33 Merrill Lynch Merrill Lynch Conference 2005
Slide 2: Forward Looking Statement
Building from Strength a Forward Looking Statement Aa This presentation contains certain "forward-looking statements" (within the meaning of the United States Private Securities Litigation Reform Act of 1995) that involve a number of risks and uncertainties. There can be no assurance that such state
Slide 3: U.S. Shareholders
Building from Strength a U.S. Shareholders Aa Agnico-Eagle has filed with the SEC a registration statement on Form F-4 containing an offer document regarding the offer. This presentation does not constitute an offer to purchase or sell or a solicitation of an offer to sell or purchase shares of Ridd
Slide 4: H1 2005 Highlights
A Rapidly Growing InternatioRaliGold Company H1, 2005 — Highlights a &. Board approves construction of Goldex mine ® LaRonde mine drives strong earnings and cash flows ® Drilling on Pinos Altos project retums high grade gold intercepts ® Initial acceptance, plus AEM's holding in RHYT, totals 49.6%.
Slide 5: H1 05 Financial Results
Exploration Success Creating Shareholder Value Ail yy H1, 2005 Financial Results a Earnings (millions) Earnings per share Cash flow provided by operating $ 47.2 Cash & equivalents June 30, 2005 (milions) $ 120.8
Slide 6: H1 2005 Operating Results
Proven and Probable H1, 2005 Operating Results Gold (ounces) 117,081 Silver (ounces in thousands) 2,302 Zinc (pounds in thousands) 85,488 Copper (pounds in thousands) 7,694 Minesite costs perton (cs) $ 49 Total cash costs ($/oz) $ 84
Slide 7: LaRonde Performing Well
Low Cost LaRonde Mine Helps Fund’Growth LaRonde Performing Well Total Production Costs (USS/oz) Sad et 10 | @——@——@ + e [_ Aanied Eagle Se 1m | me 2 | | — Q12004 922004 3.2004 242004 12005 42 2005 a eee ae Total Cash Costs (USS/0z) Q a2 @ a at @ 2004 2004 2004 2004 2005 2005 Q12004 422004 3.2004 420
Slide 8: Full Year 2005 Forecast
Low Cost LaRonde Mine Teles Fut Full Year 2005 Forecast Tons per day 7,975 Payable production: Au (ounces) 250,000 to 260,000 ‘Ag (ounces in thousands) 5,000 ‘Cu (pounds in thousands) 17,000 Zn (pounds in thousands) 166,000 Minesite costs / ton (C$) $48-$50 Total cash costs / oz (USS) below $100 Ass
Slide 9: Building a Multi-Mine Platform
Building a Multi-Mine Platform AGNICO-
Slide 10: Global Growth
Exploration Si Creating Shareholder Value Global Growth ® Pro-mining environments with low political risk ® Projects well matched to our technical skills ™@ Favourable geology with camp potential - growing gold resources @ Excellent infrastructure nearby ® Large property positions & database — aggre
Slide 11: Goldex Mine
A Rapidly Growing InternationialiGold Company Goldex Mine
Slide 12: Goldex Mine Key Attributes
Large Pipeline of New Gold Projects Goldex Mine sas Key Attributes i Most advanced project in Agnico-Eagle’s pipeline Short pre-production period - 3 years Simple ore body geometry, utilizing existing infrastructure Economies of scale — 7,500 tpd design Metallurgically simple Synergies with nearby L
Slide 13: Goldex Mine: New Gold Mine Under Construction
Goldex Mine New Gold Mine Under Construction ™ Reserves: 22.1 million tons at 0.07 oziton or 1.6 million ounces ™ Base case $400 gold, 1.30 C$/US$ ™ Base case IRR 15% after tax ™ Estimated capital cost $135 million = Estimated minesite operating costs C$17/ton ™ Estimated production in H2, 2008 Esti
Slide 14: Goldex Mine Robust Economics
Goldex Mine Robust Economics +10% er 9.8% 134% | 16.6% | 19.5% 224% Base Case Grade 5.4% 8.9% 12.2% (Yh 17.9% 20.6% 415% Io 7.7% | 112% | 145% | 17.3% | 20.2% =e Grade arlances 5% bom 3.0% | 6.5% 12.7% | 155% 18.2% | 208% | 226% 0.4% | 4.0% 10.2% | 13.0% 15.7% 18.2% | 204%
Slide 15: Goldex Mine Summary and Conclusions
ry Goldex Mine Aa Summary and Conclusions ~~ ™ Robust economics ™@ Experienced mine building team ® Pro-mining region, qualified labour available ® Straightforward metallurgy & mine plan ® Financed intemally @ While extensively sampled, potential upside on grade as bulk sample and wall chip program
Slide 16: Potentially the Second New Mine (Lapa)
Large Pipeline of New Gold Projects Potentially the Second New Mir ™ Probable reserve: 1.2 million oz ® Indicated resource of 0.8 million tons at 0.16 oziton, or 0.13 million oz ™@ Inferred resource of 1.9 million tons at 0.22 oziton, or 0.41 million oz $30 million shaft sinking, underground program
Slide 17: LaRonde II
Low Cost LaRonde Mine Helps FundiGrowth LaRonde Il ™ Large gold reserve and ongoing resource conversion @ Higher NSR values at depth in polymetallic envelope ®@ Pre-feasibility expected in Q4, 2008, including Proven & Probable Reserves engineering of preferred access option Grade Envelope Trend thic
Slide 18: LaRonde II New Exploration Results
LaRonde Il New Exploration Results Proven ahd Probableliy r A Longitudinal view, looking North +7300" 9215-112
Slide 19: Riddarhyttan Resources AB - Potential Acquisition
Building from Strength Riddarhyttan Resources AB - Finland a &. ‘otential Acquisition in 20! Initial acceptance, plus AEM's holding, totals 49.6%, Tender period now extended to Sept. 23, 2005 © Gold Deposit Prospective Regions. ™ Ifbid successful, expected to be completed in 2005 B Suurikuusikko dep
Slide 20: Suurikuusikko Project - Northern Finland
A Rapidly Growing International'G6ld Company Suurikuusikko Project - Northern Finland Resource Open For Expansion: Gold Tons Ounces xhea (cine) (ios) iB Shea posted cevemipated Measured Resource* 02 25 050 gold deposit , Indicated Resource* 016 8693 153 Strike length: 2.6 miles Inferred Resource" 01
Slide 21: Pinos Altos - Mexico High Grade Precious Metals Values
Building a Multi-Mine Platform 4 Ss High Grade Precious Metals Values ™ Indicated gold resource* of 4.4 million tons. at 0.18 oz/ton, or 0.8 million oz Pinos Altos — Mexico ‘Chihuahua Inferred gold resource* of 2.5 million tons at 0.18 oz/ton, or 0.4 million oz ™ Indicated silver resource* of 4.4 mi
Slide 22: Pinos Altos - Mexico
Exploration Success Creating Shareholder Value ‘ "Son = Pinos Altos — Mexico i 2 = Under option agreement with = Deposit open as mineralization encountered Pefoles - $2.8 milion program with outside of current resource outline $0.8 milion remaining to be spent ® Latest drilling returns high grade pr
Slide 23: Never Gives Away the Upside to Gold
Never Gives Away the Upside to Gold LaRonde generating strong earnings and cash flows New gold mine under construction at Goldex Potential second new mine at Lapa by 2008 Good track record of increasing reserves Exciting growth opportunities at LaRonde II, Suurikuusikko and Pinos Altos Largest explo
Slide 24: Searchable text section of graphics
Searchable text section of graphics shown above [L OGO] Proven and Probable Agnico-Eagle Mines Limited Business Review 2005 [GRAPHIC] [LOGO] Merrill Lynch Conference 2005 [GR APHIC] Building from Strength [LOGO] Forward Looking Statement This presentation contains certain “forward-looking statements