Agnico Eagle Reports First Quarter 2016 Operating and Financial Results - Continued Strong Operational Performance - Amaruq, El Barqueno and Barsele Drill Programs Yield Positive Results

28 April 2016

Stock Symbol: AEM (NYSE and TSX)

(All amounts expressed in U.S. dollars unless otherwise noted)

TORONTO, April 28, 2016 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle" or the "Company") today reported quarterly net income of $27.8 million, or $0.13 per share, for the first quarter of 2016.  This result includes unrealized gains on financial instruments of $9.6 million ( $0.04 per share), non-cash foreign currency translation gains on deferred tax liabilities of $8.0 million ( $0.04 per share), non-cash foreign currency translation losses of $6.8 million ( $0.03 per share), non-cash stock option expense of $5.9 million ( $0.03 per share), non-recurring losses of $1.9 million ( $0.01 per share) and various mark-to-market and other adjustment losses of $0.9 million (nil per share).  Excluding these items would result in adjusted net income of $25.7 million or $0.12 per share for the first quarter of 2016.  In the first quarter of 2015, the Company reported net income of $28.7 million or $0.13 per share.