An anonymous director reports

AGNICO EAGLE ANNOUNCES ADDITIONAL INVESTMENT IN MAPLE GOLD MINES LTD.

Agnico Eagle Mines Ltd. acquired 33,821,842 common shares of Maple Gold Mines Ltd. on June 21, 2024, at a price of 8.5 cents per common share for total consideration of approximately $2,874,856.57 from several sellers that acquired the common shares in connection with an offering of flow-through common shares issued by Maple.

Prior to the share purchase, Agnico Eagle owned 40,852,415 common shares, representing approximately 11.97 per cent of the issued and outstanding common shares on a non-diluted basis. Following the share purchase, Agnico Eagle owns 74,674,257 common shares, representing approximately 19.9 per cent of the issued and outstanding common shares on a non-diluted basis.

Agnico Eagle and Maple entered into an investor rights agreement dated Oct. 13, 2020, pursuant to which Agnico Eagle is entitled to certain rights, provided Agnico Eagle maintains certain ownership thresholds in Maple, including: (a) the right to participate in equity financings in order to maintain its pro rata ownership in Maple at the time of such financing or acquire up to a 19.90-per-cent ownership interest in Maple; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors of Maple to eight or more directors, two persons) to the board of directors of Maple.

Agnico Eagle acquired the common shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional common shares or other securities of Maple or dispose of some or all of the common shares or other securities of Maple that it owns at such time.

Agnico Eagle and Maple entered into a conveyance and option agreement dated June 20, 2024, pursuant to which, subject to the satisfaction of certain closing conditions: (a) the existing joint venture agreement dated Feb. 2, 2021, between, among others, Agnico Eagle and Maple will be terminated; (b) Maple will obtain a 100-per-cent ownership interest in the Douay gold project and Joutel gold project; (c) Maple will grant Agnico Eagle a 1.0-per-cent net smelter return royalty in respect of the projects; and (d) Agnico Eagle will retain certain options to acquire a 50-per-cent ownership interest in the projects.

An amended early warning report will be filed by Agnico Eagle in accordance with applicable securities laws.

About Agnico Eagle Mines Ltd.

Agnico Eagle is a Canadian based and led senior gold mining company and the third-largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

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