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KIA and Agnico Eagle Sign IIBA
for the Whale Tail Gold Project

Baker Lake, NU; June 15, 2017: The Kivalliq Inuit Association (KIA) and Agnico Eagle Mines Limited (Agnico Eagle) announce the formal signing of an Inuit Impact and Benefit Agreement (IIBA) for the Whale Tail Project located approximately 50 km northwest of the Meadowbank mine. An official signing ceremony was held today in Baker Lake with the executive members of KIA and representatives from Agnico Eagle's senior management team, along with the community of Baker Lake.

KIA President David Ningeongan stated, "KIA has strived to balance the need to protect the environment with the promotion of economic development. KIA has worked hard to ensure that the IIBA works for the benefit of Inuit in the Kivalliq region and is another step towards a better future for Inuit of Nunavut."

The Whale Tail IIBA addresses protection of Inuit values, culture and language and provides for enhanced access by Inuit to employment, training and business opportunities. The IIBA contains implementation and monitoring measures that will ensure these goals are achieved.

"Our decision to invest in the Whale Tail and Meliadine projects solidifies Agnico Eagle's commitment to Nunavut as it will be a main contributor to this next phase of growth for the Company," said Ammar Al-Joundi, President, Agnico Eagle. "We are proud to partner with KIA in our continued growth in Nunavut and in developing strong, sustainable communities in the Kivalliq Region. Only through combined partnership efforts will we achieve success and including our vision of seeing mines in Nunavut being operated and managed by Inuit."


Whale Tail PROJECT

The Whale Tail gold deposit is part of the Amaruq discovery located approximately 50km north of the Meadowbank mine and will be a main contributor to this next phase of growth for Agnico Eagle. The Company has approved the project for development pending the receipt of the required permits, which are currently expected to be received by the second quarter of 2018.

As a satellite deposit to the Meadowbank mine, Whale Tail will use the existing mine infrastructure — including mining equipment, mill, tailings, camp and airstrip — to begin open pit mining on the Whale Tail deposit, which is forecast for the third quarter of 2019.

Agnico Eagle's Future Growth in Nunavut

For further information:

Lucy Maynard
Executive Assistant to the President
Kivalliq Inuit Association
Ph: 867-645-5759
Toll free: 1-800-220-6581
Dale Coffin
Corporate Director, Communications
Agnico Eagle