With its emphasis on , an exceptional record quality of ...s21.q4cdn.com/374334112/files/doc_presentations/2010/...Agnico-Eagle Mines Limited 10 Nunavut Tuungavik Inc. (NTI) Mining

Agnico-Eagle Mines Limited 1

AGNICO-EAGLE MINES LIMITED

Development of the Meadowbank Mine June 17th, 2010

With its emphasis on , an exceptional record of creating shareholder value, and one of the most robust profiles in the industry, Agnico-Eagle Mines Limited has emerged as the gold stock of choice.

quality

growth

Member of the World Gold Council www.gold.org Meadowbank, Canada


Forward Looking Statements

The information in this document has been prepared as at June 16th, 2010. Certain statements contained in this document constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information.

Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production and sales; estimates of mine life; estimates of future internal rates of return, mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company's minesites and statements and information regarding the sufficiency of the Company's cash resources. Such statements and information reflect the Company's views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; and risks associated with the Company's byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the Company'sAnnual Report on Form 20-F for the year ended December 31, 2008, as well as the Company's other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation,to update these forward-looking statements and information. Marc Legault, a Qualified Person and the Company’s Vice-President, Project Development, reviewed the technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February 18, 2009 press release on the Company’s website. That press release also lists the Qualified Persons for each project.

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Note To Investors

Note to Investors Regarding the Use of Non-GAAP Financial MeasuresThis document presents estimates of future "total cash cost per ounce" and "minesite cost per tonne" that are not recognized measures under United States generally accepted accounting principles ("US GAAP"). This data may not be comparable to data presented by other gold producers. These future estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Company expects to incur to mine gold at the applicable projects and do not include production costs attributable to accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Company's total cash cost per ounce and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAP for the Company's historical results of operations is set forth in the notes to the financial statements included in the Company's Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2008, as well as the Company's other filings with the Canadian Securities Administrators and the SEC.

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Agnico-Eagle Mines LimitedCompany Overview

AEM has grown to be one of the top 10 gold companies in the world and is listed on TSX and NYSE (ticker symbol: AEM) – 50+ years operating experience

Operating Mines in Northern Quebec, Nunavut, Northern Finland and Northern Mexico (61% of our reserves are in Canada)

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1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2010

Gold reserves per share up almost 5x over past 11 years

Shares outstanding increased only 3.1 times since 1998. Gold reserves up 13.9 times

Targeting additional reserve conversion at Kittila, Pinos Altos, Goldex and Meadowbank

Uniquely positioned with potential for up to four 5 million ounce gold deposits

GOLD RESERVES(Millions of Ounces)

EST.

Meadowbank

Pinos Altos

Kittila

GoldexLapa

LaRonde1.3

3.0 3.3 3.34.0

7.9 7.9

10.4

12.5

16.718.1

20-21

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Meadowbank Project – OverviewNunavut is an integral part of Agnico-Eagle’s long-term strategy:

AEM has invested over $1.5 Billion since 2007 to bring Meadowbank into production (early 2010)

Acquisition - $750 million

Pre-production - $710 million

Exploration - $30 million

Comaplex Minerals, - Meliadine Gold project in Rankin Inlet

Connected to Baker Lake by a 110 Km all weather private access road that was completed in March of 2008 ($50 M)

Project is on Inuit Owned Land & Production Royalties will flow to the Inuit people

Great mineral potential in the Kivalliq Region (gold, uranium, diamonds & base metals)


1987: First gold hint discovery on Third Portage. Own by AsameraMinerals (60%) and Comaplex Minerals Corp. (40%)

1995: Cumberland Resources Ltd. acquires Asamera Minerals portion and become operator of the project.

Drilling campain; Base environmental evaluation: Geotechnical, metalurgical and mine engineering studies.

1997: Intense drilling campain in 97 and 98 = resources from 200,000 to 1.5M oz.

Cumberland acquires remaining 40% from Comaplex Minerals.

1998: Prefaisability and environmental study ongoing. Diamonddrilling and trenching done on Third Portage.

Meadowbank Project – Historical


2000: Vault deposit discovery

2001-2002: 16,000 m of drilling and mapping.

2003: Identification of many deposit close by with high grade confirming a major gold project.

2005: Faisability confirm a 8 year open pit with probable reservesof 2,890,000 0z.

2007: Agreement between Agnico-Eagle and Cumberland to acquire all shares of Cumberland.

Meadowbank Project – Historical


NIRB (Nunavut Impact Review Board): Public institution responsible for environmental impact assessment for all Nunavut Projects

For Meadowbank NIRB issued a list of 86 conditions to meet: water and air quality; wastemanagement; fish habitat; socio-economic evaluation committee; archeology; site closureetc.

NWB (Nunavut Water Board) manage and rules water usage and ensurepreservation and better usage (Licence A and B)

KIA (Kivalliq Inuit Association)Owns the surface rights for the Inuit Own Land (IOL)

Owns the water rights

Receives financial compensations for land usage ($/hectar) and for construction quarrymaterials ($/m3)

Receives financial compensations for water impact: quantity, quality, flow change

Part of the Inuit Impact and Benefit Agreement (IIBA)

Implement an Inuit workforce Training Development Plan

Favor Inuit workers hiring and Inuits contractors

Ensure the cultural, social and economic wellbeing of the Kivalliq population

Meadowbank Project – Nunavut Players


Nunavut Tuungavik Inc. (NTI)Mining rights owner

Federal GovernmentEnvironment Canada: MMER rules

Department of Fisheries and Oceans (DFO)

Bridges and culverts on water streams with fish

Fish habitat (No Net Loss Policy)

Transport Canada

Licence to build dykes on navigable water

Indian and Northern Affairs Canada (INAC)

Mining rights on Crown land

Local GovernmentSurface rights on 6.92 km of the road

Surface rights on marshaling area and Tank farm in Baker Lake

Meadowbank Project – Nunavut Players


PROJECT DESCRIPTION


3D Animation


Meadowbank – Quick Facts

Average annual production:

400,000 oz Au

Years 1 to 4:

350,000 oz AuLife of Mine:

Three Open Pits

Mining Method:

C$710 millionCapital Cost:

C$244 millionSustaining (life of mine):

536 permanent

jobs

Mine is on IOL Land –Mineral rights to NTI and Canada

3.64 million oz Au

Open Pit Mineral Reserve:

8,500 tpdMine Throughput:

92.5%Metallurgical Au Recovery:

Mill SiteMill Site

Airstrip Airstrip

Goose Island PitGoose Island Pit

Portage PitPortage Pit

TIA

Third Portage Lake

Vault Pit


Resource/Reserve Category Tonnage Grade Contained Metal(000's) (gpt Au) (x000 troy oz Au)

Proven Mineral ReservePortage 600 4.57 88Vault 0Goose 0

Total Proven Mineral Reserve 600 4.57 88

Probable Mineral ReservePortage 18,179 3.69 2,154Vault 11,120 2.98 1,065Goose 2,301 4.70 348

Total Probable Mineral Reserve 31,600 3.51 3,567

Total Proven & Probable Reserves 32,200 3.53 3,655

Indicated Mineral Resource (In Pit)Portage 7,077 1.01 229Vault 2,907 1.05 98Goose 538 1.02 18

Total inferred Mineral Resource in Pit 10,522 1.02 345

Reserves as of end of Dec 2009


Meadowbank – All Weather Road - TodayMeadowbank Access

March 21st, 2008


5.6 M litre Fuel Tank Pad

Crushing Plant

AirstripCamp Facilities

Meadowbank Project – April 2007


Meadowbank Project – August 2008

Over 3.5 km strike length

Goose South Goose Island Portage Bay Island Portage

exploration upside

exploration upside with underground potential

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Meadowbank Project - July 12, 2009


Meadowbank Project – August 2009


Meadowbank Project – June 2010


Highlights Q1

Process Plant Successful Start-up

First pour Feb 27th

Commercial Production criteria met in March

North Portage Pit stripping Q1: 2 637 000 t mined

Ore Stockpile of 684 700t @ 3,82 gr/t


Meadowbank Operations Forecast

Meadowbank Operations Summary 2010* 2011 2012 2013 2014

Ore milled (000's tonnes) 2,235 3,037 3,103 3,103 3,103

Grade: Gold (g/tonne) 4.47 3.78 4.16 4.06 4.86

Mill recovery: Gold 93% 94% 94% 94% 95%

Payable metal produced: Gold (ozs) 299,896 347,286 390,412 433,290 455,584

Mining/Milling Costs (C$/tonne) $68 $67 $65 $64 $64


Major expenses – 2010 Budget

Wages: $57 254 000 = 30,7%

Fuel: $40 051 000 = 21,5%

Land & sea transportation: $22 109 000 = 11,9%

Air transportation: $13 311 000 = 7,1%

Chemicals:$11 296 000 = 6,1%

Explosives: $7 070 000 = 3,8%

Misc: $35 289 000 = 18,9%

Total: $186 380 000


Meadowbank – Work Force

Group Inuit Southerner Total % Inuit

Construction 33 566 599 6%

Operation (AEM) 201 358 559 36%

Total 234 924 1158 20%

Employees at Meadowbank - May


Mining Equipments


Mining Equipments


Mining Equipments


Dike Construction – Phase 1 and 2 CompleteEast Dike – Summer 2008


Bay Goose Dike Phase 1 (2009)


Stormwater dike Summer 2009


Bay Goose Dike Causeway Winter 2010


■ 8,500 tpd

■ SAG 26’ x 12,5’L 4 500hp

■ Ball mill 18’ x 29’L 6 000 hp

■ Pebble crusher Short head 400 hp

■ Primary Crusher 42” X 65” gyratory 500 hp

■ Falcon Concentrator (30% of the overall recovery)

■ Diesel Power Plant 17.6 MW operating, 26 MW total (6 x 4,4 MW)

Process Plant


Process Plant


Process Plant

Power & Process Plants

Dome &Pebble crusher


Power Plant

Gen-Sets


Baker Lake Sealift Facilities


CHALLENGES AND PARTICULARITIES


Logistics40 000t of sealift supplies (10-12 weeks) from Becancour Qc46 Ml of fuel, 55 Ml in 2010400 passengers per week transported Mtl-Val d’Or-MDK60 000 lbs of cargo per week from ThompsonBaker – MDK fuel-passengers-cargo year round transportation

Dikes Construction & DewateringFor tailing storage facilities and ore access1km/summer (10-12 weeks)14m – 19m diggingDifferent aggregate site productionSpecialized contractors

Meadowbank Challenges/Particularities


Camp space vs construction requirementsLimited to 540 on site and 70 at exploration campMax out for a full yearHad to maintain the schedule

3 cultures working togetherInuit,French southerner,English southernerNeed very good communication to avoid wrong perceptionOverall it’s very good successCross-cultural training

Business DevelopmentVery good success with Baker Lake business unitsNeed to expand to whole KivalliqTransition from construction mode to operation with new contracts and suppliersMany new ventures will develop with our Business Development Program

Meadowbank Challenges/Particularities


ACCOMPLISHMENTS


Accomplishment

Created great links and good relationsCommunities

Regulators

Inuit and Goverment agencies

2 years to bring it to productionVery low accident frequency

Extremely tight schedule

Limited construction workforce

Limited detailed engineering

Extreme conditions


Accomplishment

Develop our own in-water Dike construction methodologyVery short open water season to build

Limited equipment number

Up to 19 m of cut of wall trenching

Maintain over 35% of Inuit in the AEM workforce

Almost 50% of expenses went to Northern Business

19 000 oz in 1st Quarter 2010

24 400 oz in April

27 200 oz in May



Q2 – Update

Process Plant Parameters:

Record production of 9 100t June 16th

Month Tonnage T/day T/hr Availability Recovery Production

March 163 399 5 271 302 74,0% 87,5% 18 322

April 176 857 5 895 289 85,0% 92,8% 24 316

May 177 610 5 729 302 79,2% 95,3% 27 285

June (15th) 92 093 6 140 319 80,2% 95,4% 11 257

Design 8 500 385 92,0% 92,5%



WHAT’S NEXT??


Future

What’s next for MeadowbankExploration – Increase reserves and mine life

Pre-crush material to increase tonnage

Expansion – 8 500 to 10 000 tpd under study

Operation supplies & contracts Inuit content

Business Development strategy

New Joint Ventures will be created

New Business will be created

More local indirect jobs and wealth creation

Need to be:

Competitive

Capable

Competent


Projet Meadowbank – Nunavut’s Exploration Potential

Taken from the Indian and Northern Affairs- 2009 Nunavut Exploration Overview Map


Projet Meadowbank – Regional Exploration Projects

Marge Bay (Au)

PDF (Au)

Vault South (Au)

East Iron Formation (Au)

Goose South (Au)

West Iron Formation (Au)

Far West (Au)

Handle (Au)

Sheba (Au)

Donna (Au)Pipe Dream (Au) Whale Tail (Au)


Vault Pit – Up side 2010 drilling campaign


Goose South Extension – Resources



Questions

Documents

With its emphasis on , an exceptional record quality of ...s21.q4cdn.com/374334112/files/doc_presentations/2010/...Agnico-Eagle Mines Limited 10 Nunavut Tuungavik Inc. (NTI) Mining