Click to access Q3-2016-10-26-AEM-Results.pdf

Toronto (October 26, 2016) – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $49.4 million, or net income of $0.22 per share for the third quarter of 2016. This result includes noncash stock option expense of $3.2 million ($0.01 per share), non-cash foreign currency translation losses of $2.5 million ($0.01 per share), a non-cash foreign currency translation loss on deferred tax liabilities of $1.3 million ($0.01 per share), various markto-market and other adjustment gains of $1.1 million (nil per share), non-recurring losses of $0.7 million (nil per share) and losses on financial instruments of $0.6 million (nil per share). Excluding these items would result in adjusted net income1 of $56.6 million, or adjusted net income of $0.25 per share for the third quarter of 2016. In the third quarter of 2015, the Company reported net income of $1.3 million or $0.01 per share. For the first nine months of 2016, the Company reported net income of $96.2 million, or $0.43 per share. This compares to the first nine months of 2015, when net income was $40.1 million, or $0.19 per share. Financial results in the 2016 period were positively affected by higher revenues as a result of higher realized gold prices (approximately 8%), silver prices (approximately 9%) and other higher by-product metals revenues.