Agnico Eagle Reports Third Quarter 2019 Results; Record Quarterly Gold Production; Amaruq Declares Commercial Production; Free Cash Flow Generation Drives 40% Increase in Dividend; Exploration Drilling Continues to Advance Minesite and Pipeline Projects

Agnico Eagle 241019

TORONTO, Oct. 23, 2019 /CNW/ – Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle” or the “Company”) today reported quarterly net income of $76.7 million, or $0.32 per share, for the third quarter of 2019.  This result includes non-cash foreign currency translation losses on deferred tax liabilities and non-recurring tax adjustments of $8.3 million ($0.04 per share), derivative losses on financial instruments, mark-to-market and other adjustments of $3.8 million ($0.02 per share) and non-cash foreign currency translation gains of $1.3 million ($0.01 per share).  Excluding these items would result in adjusted net income1 of $87.5 million or $0.37 per share for the third quarter of 2019.  In the third quarter of 2018, the Company reported net income of $17.1 million or $0.07 per share.

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