Two new deposits poised to deliver increased gold production in mid-2019

Agnico Eagle’s Meliadine mine and Amaruq satellite deposits remain on track to deliver multi-decades of expanded gold production and reserve growth.

Both projects have received all final regulatory and environmental permits from the Government of Canada, paving the way for the projects to deliver a combined 750,000 ounces of annual gold production beginning in mid-2019 and contributing more than 35% toward our target of producing two million ounces of gold by 2020.

According to Ammar Al-Joundi, President, Agnico Eagle has leveraged 10 years of experience in the region to ensure both Meliadine and Amaruq remain on budget and on schedule in order to deliver competitive advantage.

“We won’t chase mines everywhere in the world. We pick regions where we know there is gold and we will try to be the best in those regions: where people want you to be – the communities and the governments – and where there is an opportunity to work together to create competitive advantage. Because it’s only if you are the best in the business that you are going to get the best returns for your investors and the best results for your communities and your employees."

What competitive advantage does Agnico Eagle hold in Nunavut?

• 10 years in the region, with the Meadowbank mine providing the infrastructure (roads, access to ports and airstrips, facilities, camps) necessary to leverage and reduce our costs – for example, allowing for exploration at a third of the cost of our competitors
• Strong established community relations and a highly-trained Inuit labour force
• A low risk and mining-friendly jurisdiction combined with welcoming and mining-knowledgeable local communities
• Massive land holdings (1.25 million acres) that to date our exploration team has only scratched the surface of, indicating unlimited mineral potential for generations to come.

Agnico Eagle will continue to take a sustainable and respectful pace to growth in the region from both a capital perspective and from a human and natural resources perspective.

Watch the video to learn more about our plans for Meliadine and Amaruq.