AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC

About this update from Agnico Eagle Mines Limited

AGNICO EAGLE REPORTS WALL MOVEMENT AT BARNAT OPEN PIT AT CANADIAN MALARTIC /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntar{ TEXT-ALIGN: RIGHT } Canada NewsWire Stock Symbol: AEM (NYSE and TSX)TORONTO, July 2, 2026 /CNW/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") reports that a rock mass movement occurred on July 1, 2026, along the north wall of the Barnat open pit at the Canadian Malartic complex in Quebec, Canada. There were no injuries, equipment damage or environmental impact as a result of the event. As a precautionary measure, the Company has temporarily suspended mining operations in the Barnat open pit.The rock mass movement occurred within an area that had been previously identified as having weaker geological structures within the north wall at Barnat and was subject to enhanced geotechnical monitoring in accordance with established mine planning and safety protocols, including safety exclusion zones.The Company's technical teams are conducting a detailed geotechnical assessment to confirm the stability of the affected area and determine the appropriate path forward. Planning activities are underway to support the safe and orderly resumption of operations in the Barnat pit. Safety remains the Company's highest priority.During the suspension of in-pit mining operations, the Canadian Malartic processing plant will be supplied with low-grade ore from existing stockpiles in place of planned Barnat ore feed. This approach is expected to help mitigate the near-term impact on production.Production in the second quarter of 2026 was not affected and the Company expects production for the second quarter of approximately 845,000 ounces of gold, slightly ahead of plan. However, based on currently available information, the Company expects the rock mass movement to reduce production in the second half of 2026 at Canadian Malartic by approximately 60,000 to 80,000 ounces of gold. Accordingly, the Company expects full year 2026 production to be near the lower end of its previously disclosed guidance range of 3.3 million to 3.5 million ounces of gold.The Barnat open pit was expected to be...

View stock analysis, news, and events for Agnico Eagle Mines Limited