Agnico Eagle provides further update on Quebec and Nunavut operations

24 March 2020

Agnico Eagle Mines Limited is providing a further update on its Quebec and Nunavut operations. Today the Company held discussions with representatives from the Government of Quebec to get additional clarity in regard to the order by the Government of Quebec to close all non-essential businesses in response to the COVID-19 outbreak issued on the afternoon of March 23, 2020 (the "Order").  Pursuant to the Order, mining operations were directed to minimize their activities until April 13, 2020.

Based on today's discussions, and in response to the Quebec decision, the Company will take steps to ramp down its operations in the Abitibi region of Quebec (the LaRonde Complex, the Goldex mine and the Canadian Malartic mine (50%)) in an orderly fashion while ensuring the safety of employees and the sustainability of the infrastructure.  Each of these operations are to be placed on care and maintenance until April 13, 2020, and as instructed, minimal work will take place during that time.  In addition, the Company will reduce activities at the Meliadine and Meadowbank mining operations in Nunavut, which are currently serviced out of Mirabel and Val d'Or, Quebec.  Exploration activities in Canada will also be suspended during this period.

"The health, safety and well-being of all our employees and the communities that we operate in continue to remain our priority.  As directed by the Quebec government, our Quebec mines will be placed on care and maintenance.  At the same time, our Nunavut mines will be operating at reduced levels", said Sean Boyd, Agnico Eagle's Chief Executive Officer.  "Even with the reduction in mining activities, we plan to maintain a state of operational readiness in order to resume normal operations in a timely and safe manner once the restrictions are lifted."