Agnico Eagle Reports Q2 2016 Operating and Financial Results; Production Guidance Raised and Dividend Increased by 25%

TORONTO, July 27, 2016 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $19.0 million, or net income of $0.09 per share for the second quarter of 2016 (on an undiluted basis).  This result includes a non-cash foreign currency translation loss on deferred tax liabilities of $7.0 million ($0.03 per share), various mark-to-market and other adjustment losses of $5.8 million ($0.03 per share), non-cash foreign currency translation losses of$5.5 million ($0.02 per share), non-cash stock option expense of $3.1 million ($0.01 per share), non-recurring gains of $4.4 million($0.02 per share), and unrealized gains on financial instruments of $1.0 million (nil per share).  Excluding these items would result in adjusted net income1 of $35.0 million or $0.16 per share for the second quarter of 2016.  In the second quarter of 2015, the Company reported net income of $10.1 million or net income of $0.05 per share.

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