Agnico Eagle Announces Additional Investment IN Cartier Resources Inc.

(All amounts expressed in Canadian dollars unless otherwise noted)

AGNICO EAGLE ANNOUNCES ADDITIONAL INVESTMENT IN

CARTIER RESOURCES INC.

Toronto (May 18, 2022) – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM)

("Agnico Eagle") announced that it has agreed to subscribe for 14,000,000 units ("Units")

of Cartier Resources Inc. (TSX-V: ECR) (" Cartier") in a non-brokered private placement

at a price of $0.13 per Unit for total consideration of approximately $1,820,000. Each Unit

is comprised of one common share of Cart ier (a "Common Share") and one-half of one

common share purchase warrant of Cartier (each full warrant, a "Warrant"). Each Warrant

entitles the holder to acquire one Common Share at a price of $0.16 for a period of 36

months following the closing date of the private placement. Closing is expected to occur

on or about May 20, 2022 and is subject to certain conditions.

Agnico Eagle currently owns 35,292,536 Co mmon Shares, represent ing approximately

13.33% of the issued and outstanding Common Shares on a non-diluted basis. On closing

of the private placement, Agnico Eagl e will own 49,292,536 Common Shares and

7,000,000 Warrants, representing approximately 17.70% of the issued and outstanding

Common Shares on a non-dilu ted basis and 19.72% of the issued and outstanding

Common Shares on a partially-diluted basis a ssuming exercise of the Warrants held by

Agnico Eagle.

Agnico Eagle and Cartier entered into an investor rights agreement dated December 22,

2016. In connection with closing of the privat e placement, Agnico Eagle and Cartier will

enter into an amended and restated investor rights agreement pursuant to which Agnico

Eagle will be entitled to , among other things, the following ri ghts (subject to maintaining

certain ownership thresholds): (a) the right to participate in certain equity financings by

Cartier in order to acquire up to a 19.97% owner ship interest in Cartier; 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 t he board of directors of Cartier to 10 or more

directors, two persons) to the board of directors of Cartier.

Agnico Eagle is acquiring the Common S hares and Warrants for investment purposes.

Depending on market conditions and other factors, Agnico Eagle may, from time to time,

acquire additional Common Shares, common share purchase warrants or other securities

2

of Cartier or dispose of some or all of t he Common Shares, Warrants or other securities

of Cartier that it owns at such time.

An amended early warning report will be fil ed by Agnico Eagle in accordance with

applicable securities laws. To obtain a copy of the early warning report, please contact:

Jean-Marie Clouet

Agnico Eagle Mines Limited

145 King Street East, Suite 400

Toronto, Ontario M5C 2Y7

Telephone: 416-947-1212

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario

M5C 2Y7. Cartier’s head office is located at 1740, chemin Sullivan, Suite 1000, Val-d’Or,

Quebec J9P 7H1.

About Agnico Eagle

Agnico Eagle is a senior Canadian gold mining company, producing precious metals from

operations in Canada, Austra lia, Finland and Mexico. It has a pipeline of high-quality

exploration and development projects in these c ountries as well as in the United States

and Colombia. 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.

Forward-Looking Statements

The information in this news release has been prepared as at Ma y 18, 2022. Certain

statements in this news release, referred to herein as "forward -looking statements",

constitute "forward-looking statements" withi n the meaning of the Un ited States Private

Securities Litigation Reform Act of 1995 and "forward-looking information" under the

provisions of Canadian provincial securities laws. These statements can be identified by

the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news rel ease include, without lim itation, statements

relating to the expected closing date of the private placement, Agnico Eagle's ownership

interest in Cartier upon closi ng of the private pl acement, Agnico Eagle's acquisition or

disposition of securities of Cartier in the future and the terms of the amended and restated

investor rights agreement.

Forward-looking statements are necessarily based upon a number of factors and

assumptions that, while considered reasonable by Agnico Eagle as of the date of such

3

statements, are inherent ly subject to significant busin ess, economic and competitive

uncertainties and contingencies. Many factors, known and unknown, could cause actual

results to be materially different from those expressed or implied by such forward-looking

statements. Readers are cautioned not to place undue reliance on these forward-looking

statements, which speak only as of the date made. Other than as required by law, Agnico

Eagle does not intend, and does not assume any obligation, to update these forward-

looking statements.