Agnico Eagle Reports Second Quarter 2018 Results; Production Guidance Increased for 2018; Amaruq Project Receives Permit Approval; Meliadine Project Progressing on Budget and on Schedule; Drilling Continues to Extend Mineralization at Multiple Mine Sites

Q2-2018-AEM-Results-July-25-2018

TORONTO , July 25, 2018 /CNW/ – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $5.0 million , or $0.02 per share, for the second quarter of 2018. This result includes a realized gain on asset disposals of $25.0 million ( $0.11 per share) primarily related to the sale of the West Pequop Joint Venture, Summit and PQX properties in Nevada , non-cash foreign currency translation losses on deferred tax liabilities of $15.9 million ( $0.07 per share), non-cash foreign currency translation losses of $3.9 million ( $0.02 per share) and mark-to-market adjustments and derivative losses on financial instruments of $2.8 million ( $0.01 per share). Excluding these items would result in adjusted net income 1 of $2.6 million or $0.01 per share for the second quarter of 2018. In the second quarter of 2017, the Company reported net income of $54.9 million or $0.24 per share.

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